WTI crude oil futures is retreating sharply after the pullback on the three-month high of 57.78 that was reached on February 22. The 20- simple moving average (SMA) is ready to create a bearish crossover with the 40-SMA in the 4-hour chart, as the price is moving towards the short-term rising trend line, taken from the lows on December 26. In the short-term timeframe, the RSI indicator is pointing slightly up in the negative territory as well as the %K line of the stochastic oscillator is posting a bullish cross with the %D line in the oversold zone, supporting the view for a possible upside correction. However, the ... (full story)