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Crude Oil in Consolidation Mode ahead of OPEC Meeting

Discussion in 'Technical Analysis' started by Kaitlin, May 27, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Having momentarily surpassed the $50 hurdle, Brent and WTI suffered from profit-taking in the second half of Thursday's session before extending their losses slightly on Friday morning. Despite the pullback, both oil contracts still looked set to close higher for the third straight week. Oil prices have been boosted by[​IMG]

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