Oil New York Price Forecast: WTI race to the bottom goes on

FX Street

Updated: 21 Apr. 2020 | 14:17

WTI remains under unprecedented selling pressure on the second day of the week.
The level to beat for bears is the 5.50 support.

WTI daily chart

WTI is extremely strong selling pressure as the demand for the black gold remains absent.

WTI four-hour chart

WTI took another impressive spike down as the bears remain in full control of the market. A break below $5.50 a barrel can send the oil further down near 2.74 and 1.35 in the medium-term. Resistance can emerge near 10.60, 13.46 and 16.10 levels.

Additional key levels

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