Crude oil prices had one the worst selloff in history plummeting to near $20 a barrel in the last four weeks. WTI appears to be stabilizing after the carnage but remains vulnerable to the downside. Oil weekly chart WTI collapsed abruptly in the last four weeks as the barrel plunged to its lowest since February 2002. Oil daily chart WTI is trading within Wednesday’s range, consolidating the violent selloff. However, given the strong bearish pressure, it remains to be seen if WTI can regain some poise or if bears will come back and bring the market to new lows pretty soon. Oil four-hour chart The market remains under strong selling pressure below the main SMAs as bears are looking for an extension of the selloff below the 22/20 price zone with scope to the 16 level on the way down. On the flip side, bullish will try to gather momentum above the 24 resistance with the idea to potentially reach the 28 and 32 price levels on the way up. Additional key 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 TRON Price Analysis: TRX has broken out of it’s consolidation zone FX Street 2 years Crude oil prices had one the worst selloff in history plummeting to near $20 a barrel in the last four weeks. WTI appears to be stabilizing after the carnage but remains vulnerable to the downside. Oil weekly chart WTI collapsed abruptly in the last four weeks as the barrel plunged to its lowest since February 2002. Oil daily chart WTI is trading within Wednesday’s range, consolidating the violent selloff. However, given the strong bearish pressure, it remains to be seen if WTI can regain some poise or if bears will come back and bring the… 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.
