WTI is currently trading at 54.76 in Asia, up 0.09% following a sharp 1% rise overnight following OPEC production cut sentiment underpinning the bullish case for oil. "Momentum indicators continue to fire downside signals, but CTAs could soon be reaching their target positions in WTI, suggesting that downside flow could soon ease," analysts at TD Securities argued. From a technical standpoint, the price is hovering above a 50% retracement of the late Dec to 2019 range. Bulls can target a test of the 20, 50 and 200 daily moving averages up ahead towards the 56 handle. However, a break below the 50.50 level could ... (full story)