WTI crude oil appears to be forming another bullish flag pattern, indicating that a continuation of the rally is in the works. Price has yet to break past the flag top around $32 per barrel to confirm that bulls are charging again. The 100 SMA is above the longer-term 200 SMA on the 4-hour chart to show that bullish momentum is in play. The gap between the moving averages is also widening to reflect stronger buying pressure. Note that the earlier rally spans around $8 in height, so the resulting climb could be of the same size. However, RSI is turning lower to show that sellers could take over again. If so, a ... (full story)