WTI oil futures for November delivery turned indecisive after failing to pierce the floor around the 23.6% Fibonacci.
WTI crude oil futures have come under renewed buying interest, rising back above the 20- and 40-simple moving averages.
WTI crude oil futures have been in a flying mode since yesterday’s trading session, recording a new four-month high around 59.32 today.
WTI oil futures jumped to a new one-and-a-half-month high of 57.43 earlier on Tuesday.
WTI oil futures have been trading above the short-term ascending trend line in the 4-hour chart.
WTI crude oil futures are retreating sharply after the pullback on the three-month high of 57.78 that was reached on February 22.
West Texas Intermediate crude oil futures topped at a new three-month high of 56.31 during yesterday’s trading session.
West Texas Intermediate (WTI) crude oil futures are edging slightly higher, surpassing the Kijun-Sen line.
WTI futures came close to breaking the 38.2% Fibonacci retracement level of the down leg from the four-year high of 76.90.
West Texas Intermediate (WTI) futures have declined beneath the 20- and 40-simple moving averages (SMAs) in the 4-hour chart.