22 Apr 2020
Oil New York Price Forecast: WTI remains under $8.00 a barrel, bearish
- WTI stays under strong selling pressure on, the third day of the week.
- The level to beat for bears is the 5.60 support.
WTI daily chart
WTI remains under historic selling pressure as the black gold is spiking sharply to the downside.
WTI four-hour chart
Crude is rebounding as it is trading near 7.00 a barrel. The bears remain firmly in control as the market is likely to remain under pressure. Bears are likely setting their eyes on the 5.60 and 2.70 level to the downside. Resistance can emerge near 7.90 and the 10.50 level.
Additional key levels