WTI crude oil could be in for a continuation of its slide, as price closes in on the top of the descending channel. Technical indicators confirm that sellers could return right here. In that case, crude oil could fall back to the channel bottom around $63 per barrel or the mid-channel area of interest at $64.50 per barrel. The 100 SMA is below the 200 SMA to signal that the path of least resistance is to the downside or that resistance is more likely to hold than to break. However, crude oil is above both moving averages, so these could hold as dynamic support on dips. Stochastic has been indicating overbought ... (full story)