WTI futures have reversed back down again after finding resistance at the 65.95 resistance level, achieved on Monday, which overlaps with the 20- and 40- simple moving averages (SMAs) in the 4-hour chart. Additionally, the price dived below the 23.6% Fibonacci retracement level of the downleg from 72.87 to 63.55, near 65.75. Looking at momentum oscillators on the 4-hour chart, they suggest further declines may be on the cards in the short-term. The RSI is below its neutral 50 line, detecting negative momentum, and is also pointing downwards. The stochastic oscillator, already negative, posted bearish a crossover of ... (full story)