WTI oil futures kept their footing on the 61.8% Fibonacci retracement of the September-December downtrend at 84.69 on Wednesday and closed the day with mild gains at 86.24 after news that Iran may retaliate against Israel’s deadly attack on a diplomatic compound in Damascus. Although the price has gently bounced back, short-term risks persist as the RSI has left the overbought zone and is leaning to the downside, while the MACD and stochastic oscillator are still trending downwards. On the other hand, the market trend shows a positive trajectory in the 2024 picture and the bullish crosses between the upward-sloping ... (full story)