WTI oil futures for June delivery have been moving back and forth since the plunge to 6.62 last week.
WTI oil futures (May delivery) collapsed to a 21-year low of 14.46 early on Monday.
WTI futures look to be mostly bearish after a descend from the 65.61 resistance on January.
WTI crude oil futures have been consolidating within a narrow range over the last week.
WTI oil futures for April delivery is in free-fall mode on Monday.
WTI oil futures yesterday – as positive momentum evaporated – were unable to decisively overrun the neckline.
WTI oil futures yesterday reversed ahead of the 49.29 fresh bottom – which is a thirteen-month low.
WTI crude oil futures recorded a significant downfall over the past six days.
WTI oil futures have eased slightly off the 58.56 resistance, which is the 61.8% Fibonacci retracement of the down leg from 63.22 to 50.98.
WTI oil futures are trading around the 57.11 area, which is the 50.0% Fibonacci retracement of the down wave from 63.22 to 50.98.