WTI oil futures tumbled by 2.8% to 82.84 on Wednesday, experiencing one of their biggest daily losses so far this year after a short-period of consolidation. The price slid below the key support of 84.14 and the 20-day exponential moving average (EMA), dissolving a descending triangle to the downside. This is usually a bearish chart pattern, indicating a potential trend reversal. In other discouraging signals, the negative slope in the RSI and the falling MACD are backing the ongoing selling appetite in the market. Yet, with the stochastic oscillator entering the oversold territory below 20, selling pressures could ... (full story)