WTI futures have been trading slightly below the long-term ascending trend line over the last few sessions, remaining within the Ichimoku cloud. The RSI indicator is flattening beneath the 50 level, while the MACD oscillator is losing momentum below its trigger line in the short-term. The 20- and 40-period simple moving averages (SMAs) are creating a bearish crossover, confirming the latest down move. If the price remains below the uptrend line, immediate support could come from the 82.74 barrier ahead of the 23.6% Fibonacci retracement level of the up leg from 66.00 to 87.14 at 82.20. Beneath these crucial levels, ... (full story)