Key Support: 62.60 – 62.00
Key Resistance: 64.00 – 66.00 – 68.00
Crude Oil has been really bullish since the lockdowns rules have eased around the world. With higher demand for petroleum based products and OPEC output cuts to level the oil markets and sustain prices we have seen a big rally from the pandemic lows.
Fast forward almost a year and WTI went from negative numbers to topping at $68/barrel.
After those highs price dipped 15% to retest the 57 level and started trading inside of a flag at the end of a triangle formation. We missed the breakout but right now price is trading inside of last week´s range right at support.
A breakout of last week´s highs would ignite the next bullish leg of the move.
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated