Sellers return after WTI run into strong offers just below the 200-HMA cap. RSI trades flat while above the bullish zone, keeping buyers hopeful. WTI (futures on NYMEX) has stalled its recovery rally below the 200-hourly moving average (HMA), now dropping further towards the $59.50 level. The US oil drew support from the Saudi Arabian Energy Minister Prince Abdulaziz bin Salman’s comments. The Minister expressed confidence that OPEC and its allies (OPEC+) made the right output decision. At the time of writing, WTI drops to $59.65, looking to test the critical support at $59.60, which is the confluence of the ... (full story)