WTI crude oil is still testing the resistance at the top of its rising channel around the $83 per barrel mark. If this keeps holding, a pullback to nearby support areas marked by the Fib tool could follow. The 38.2% level is at $81 per barrel then the 50% level is at $80.44 per barrel. The 61.8% level is near the $80 per barrel major psychological support and the channel bottom. This is also near the 100 SMA dynamic inflection point. On the subject of moving averages, the 100 SMA is still above the 200 SMA to confirm that the path of least resistance is to the upside or that support is more likely to hold than to ... (full story)