WTI trades flat on Friday but down 1.81% this week. It has not been the most exciting day for price action with the price stabilising at USD 40 per barrel. WTI 1-hour chart It has been a mixed Friday for WTI as the price is moving sideways heading into the weekend. All of the excitement was last week when the OPEC+ JMMC decided to keep output levels at their current rate until December. This decision was due to the continuing issues surrounding the COVID-19 pandemic. Just recently the latest US rig count data was released but it has stalled within the recent median range and will not have a major impact on the current price. Looking at the price, the market has now consolidated after the move from a low of USD 36.43 per barrel. Now the price seems to be stabilising at USD 40 per barrel. There is a floor and ceiling level around this consolidation between USD 39.39 and USD 40.58 per barrel. A break of the black line could mean another test of the blue resistance zone wave high at USD 41.75 per barrel. On the downside, the next support beyond the red line lies at USD 38.50 per barrel. The indicators are still pretty bearish. The MACD histogram is red and the signal lines have just moved through zero. The Relative Strength Index is under 50 and firmly sideways for now. This is a clear sideways trend and a break of the aforementioned consolidation levels could lead to a signal of the future direction. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 top movers: Major cruise liners’ shares post impressive gains FX Street 2 years WTI trades flat on Friday but down 1.81% this week. It has not been the most exciting day for price action with the price stabilising at USD 40 per barrel. WTI 1-hour chart It has been a mixed Friday for WTI as the price is moving sideways heading into the weekend. All of the excitement was last week when the OPEC+ JMMC decided to keep output levels at their current rate until December. This decision was due to the continuing issues surrounding the COVID-19 pandemic. Just recently the latest US rig count data was released but it has stalled within… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.