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Oil Price Analysis: WTI taking a breather below $30.00 a barrel

FX Street
Updated:
  • WTI is consolidating last week’s advance while trading below the 30.00 mark.
  • Support can emerge near 24.00 and 22.00 levels. 
 

WTI daily chart

 
WTI consolidates last week’s advance as WTI is weighing the Trump tweet suggesting that a Saudi-Russian deal has been concluded. 
 

WTI four-hour chart

 
After regaining some strength last week, WTI is consolidating the advance below 30.00 resistance. As the main trend remains bearish, WTI could lose steam as bears eye the 24.00, 22.00 and 20.00 price levels while the main resistance is the 30.00 handle.
 

Additional key levels

 

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