WTI crude oil is trending up with its higher lows above an ascending trend line on the 1-hour time frame. Price could be due for a pullback to this support area that lines up with the Fibonacci retracement levels. The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to gain traction than to reverse. Price could retreat to the 61.8% Fib at the $55.50 per barrel mark before resuming its climb. A shallow correction could find support at the 50% Fib at $55.85 per barrel or the 38.2% level at $56.25 per barrel. If any of the ... (full story)