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WTI continues the smooth upside movement

From xm.com

{video}WTI crude oil futures are moving higher with weak momentum and reached a fresh five-month high of 43.52 in the preceding days. The MACD oscillator is showing a negative divergence, suggesting slowing upside movement that is indicating a bearish reversal on price. However, the RSI is still pointing upwards in the positive territory. A clear upside rally above the 43.52 resistance could open the way for a revisit of the 48.80 barrier, registered on March 3. Breaching this level, the market could make a pause around the 54.62 hurdle, taken from the peak on February 20. On the flip side, a decline beneath the 20- ... (full story)

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  • Category: Technical Analysis