The WTI crude oil price on Thursday pulled back before finding strong trendline support at about $77.50. The light crude oil appears to be trading within a gently descending channel formation in the 60-min chart. The oil price has now plunged to trade a few levels below the 100-hour moving average line. However, the support level above $77.50 appears to be holding firm, thus preventing the crude oil price from descending to the oversold levels of the 14-hour RSI. WTI Crude Oil Fundamentals Overview From a fundamental perspective, light crude oil is trading at the back of a relatively busy period in the market. On ... (full story)