West Texas Intermediate (WTI) crude oil futures are edging slightly higher, surpassing the Kijun sen line and the 20-simple moving average (SMA) in the 4-hour chart, indicating a possible upside retracement. However, the price remains below the Ichimoku cloud and the technical indicators are still standing in the negative zone. The RSI is approaching the 50 level, while the MACD jumped above the trigger line in the near term. Moving higher immediate resistance could come from the 40-SMA currently at 53.90, before heading towards the 55.20 level, registered on February 5. A stronger barrier though could be found at ... (full story)