By Orbex
WTI crude oil prices posted a rebound following the declines from last week. Prices got a boost early on Monday following stronger GDP numbers out of China.
However, the current retracement remains somewhat subdued. Unless we see a breakout above the previous highs of 53.74, we could expect a continuation lower.
This will mark a correction in crude oil prices which has been in a steady trend for a while.
The immediate downside target for oil prices is the 49.00 area. Establishing support there could potentially mark a correction into the longer-term uptrend that oil prices are in currently.
Free Reports:
By Orbex
By JustMarkets On Wednesday, the U.S. stock market declined. By the end of the day,…
By Brian Jay Tang, University of Michigan and Kang G. Shin, University of Michigan Hundreds…
Belize City, Belize, April 29, 2026 – Financial broker RoboForex has expanded its CFD offering with…
By Maximilian Brichta, University of Virginia Once seen as often dry and sometimes intimidating, personal…
By JustMarkets On Tuesday, the US stock market declined. By the end of the day,…
By Analytical Department RoboForex EUR/USD is slightly lower on Wednesday, trading with minimal movement around…
This website uses cookies.