Crude oil futures rebound on improved outlook and geopolitical risks
pre-market1 source ↓written by the desknot a recommendation
- after testing
- $56.85
- earlier this week
- $54.89
- now serves
- 50% retracement level at $55.87
- toward targets
- $57.51
- $58.07
Light crude oil futures rose, closing at $56.85 after testing $54.89 earlier this week. The 50% retracement level at $55.87 now serves as a pivotal point. A sustained move above $56.85 could push prices toward targets of $57.51 and $58.07. Sellers may regain control if prices fall below $55.87.
Not investment advice. For informational purposes only.