30 Apr 2014
Oil falls below 99.50 to nearly 4-week lows
FXStreet (San Francisco) - The WTI oil is falling for second day on Wednesday as investors are trading riskier assets amid Canadian and US GDP and a relief over Ukraine's tensions.
The WTI broke below the 100.00 level and stops triggering fueled the commodity to trade below the 99.50 where it is pricing now at lows since April 3 at 99.40.
Oil levels
If the WTI remains below the 99.50 area, it would find supports at 99.10, 98.85 and 98.30. On the upside, 100.00 and 100.50 would be resistances.
The WTI broke below the 100.00 level and stops triggering fueled the commodity to trade below the 99.50 where it is pricing now at lows since April 3 at 99.40.
Oil levels
If the WTI remains below the 99.50 area, it would find supports at 99.10, 98.85 and 98.30. On the upside, 100.00 and 100.50 would be resistances.