WTI is trading off the May’s highs near $33.00 per barrel. Strong resistance is limiting WTI advances near the 34.25 level. WTI four-hour chart The oil recovery started in April’s lows consolidates after hitting fresh May’s highs. WTI is trading above the 100 and 200 SMAs on the four-hour but just below the 50 SMA, suggesting a mixed picture. However, as the oil market remains fragile and in a dominant bear trend, it remains to be seen if the black gold can regain the 34.25 resistance. More likely, sellers will be looking for a retest of the 32.00 support level with the potential for a drop towards the 30.00 figure. Resistance: 34.25, 36.00 Support: 32.00, 30.00 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 EUR/USD pushes higher to 1.1040, new monthly highs FX Street 3 years WTI is trading off the May’s highs near $33.00 per barrel. Strong resistance is limiting WTI advances near the 34.25 level. WTI four-hour chart The oil recovery started in April’s lows consolidates after hitting fresh May’s highs. WTI is trading above the 100 and 200 SMAs on the four-hour but just below the 50 SMA, suggesting a mixed picture. However, as the oil market remains fragile and in a dominant bear trend, it remains to be seen if the black gold can regain the 34.25 resistance. More likely, sellers will be looking for a retest of the 32.00… 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.
