WTI oil futures for July delivery are underneath the 70.10 -72.10 key tough resistance area from 2018 for the fourth consecutive day following the break above a bullish ascending triangle. The increasing distance between the red Tenkan-sen and blue Kijun-sen lines and the positive momentum in the MACD raise the odds for additional upside movements in the market. Still, a consolidation phase cannot be ruled out in the near term given the downward reversal in the Stochastics and the stabilization in the RSI. Should the 70.10 wall hold firm, the price could immediately pull back to seek support around the red Tenkan-sen ... (full story)