Price action in crude oil has turned rather flat. Although WTI is up close to 2% intraday, the bigger picture shows a trendless market Price action has, however, settled comfortably above the 25.00 level. As long as this level holds, there could be scope to the upside.
But with the previous highs near 27.95 yet to be breached, prices are trading in a range.
This could see the downside risks rise. But a lot will depend on the support area of 25.00.
A breakdown below this level could signal a downside correction.
