WTI crude oil prices retreat during the Asian session, with market participants eyeing a potential breakdown below the critical $88.00 support level.
WTI price is under renewed selling pressure with bears awaiting a breakdown below $88.00 and 50% Fibo support.
West Texas Intermediate crude oil prices face renewed selling pressure during Thursday's Asian session, erasing gains from the previous day. Traders are now closely monitoring the $88.00 support level, which aligns with the 50% Fibonacci retracement, as bearish sentiment dominates the short-term outlook.
The outlook is bearish in the short term, with the price under selling pressure and testing the $88.00 support level.