Oil New York Price Forecast: WTI stabilizes near 17.00/oz

FX Street

Published date: 24 Apr. 2020 | 14:37

WTI is stabilizing after staging a recovery.
The level to beat for sellers is the 15.55 support.

WTI daily chart

Crude oil had a historic selloff but it already seems to be recovering with prices hovering near $17.00 per barrel.

WTI four-hour chart

WTI is stabilizing after recovering from the lows. As the underlying bias remains negative it is doubtful there is much oil in the tank for bulls as this market remains vulnerable. Bears would be looking for a break below the 15.55 level. On the flip side, resistance is seen near the 18.80 level.

Additional key levels

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