WTI crude oil prices take offers around $104.60 to renew intraday low during Thursday’s Asian session. That said, the black gold dropped the most since November the previous day while breaking an upward sloping trend line from February 25 and the 50-SMA. The quote’s latest weakness could be linked to the failures to cross the 50-SMA, as well as bearish MACD. Hence, WTI bears are all set to retest the 100-SMA level surrounding $101.00, before challenging the $100.00 psychological magnet. However, a three-week-long rising support line near $93.65-70 will restrict the energy benchmark’s further weakness. On the ... (full story)