March 27, 2020
By Orbex
WTI Crude oil prices are trading weaker, down over 4% on the day.
This comes amid the trend line holding up as dynamic resistance.
If the declines continue, then we expect a move lower back to the 22.00 level of support.
With the lower highs forming, there is a chance that WTI crude oil will converge into a descending triangle pattern. This signals a possible breakdown further below the 22.00 level.
By Orbex
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
