{video}WTI oil futures (March delivery) have been stuck in a prolonged downtrend since June, generating a fresh one year-low of 70.30 in December. Even though the commodity managed to recoup some losses and break above its 50-day simple moving average (SMA), its rebound seems to be running out of juice. The momentum indicators currently suggest that near-term risks are tilted to the upside. Specifically, the MACD histogram is softening but remains above zero and its red signal line, while the RSI is flatlining above its 50-neutral mark. Should the positive momentum strengthen, initial resistance could be met at the ... (full story)