Crude oil prices are steadily declining after the recent rally to the 35.00 handle. Price action is in a steady short term decline. However, the momentum to the downside is starting to slow.
Going by the Stochastics oscillator, we could expect a possible attempt for a retest of the 35.00 handle. While to the downside, the previously established floor at 28.00 remains within reach. Given the market conditions, it would be a bit too early to call the direction in WTI crude oil prices.
