• Add

Crude Oil Retreats After Hitting $40.00

Orbex Affiliate Program

WTI Crude oil prices made a strong gain in the early Asian trading session on Monday. Prices, as a result, hit the key level of 40.00.

However, the commodity gave back the gains just as quickly and is down over 2% intraday.

The volatility in crude oil continues and this move could see a possible correction lower.

For the moment, the minor support level at 37.67 might stall the declines.

But in the event of a breakdown lower, we expect oil prices to correct to the 34.42 level.

A lower high will possibly validate this downside bias.

Orbex Review

Source: https://www.orbex.com/blog/en/2020/06/crude-oil-retreats
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}