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WTI futures hover in a narrow range; flat in the short term. WTI oil futures for August delivery are moving sideways below the 50.0% Fibonacci mark of the 66.60 – 50.60 down-leg near 58.58 but hover above the 20-period simple moving average (SMA) in the 4-hour chart. The RSI and the MACD
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WTI oil futures lack clear direction in the short-term; the medium-term downtrend intact. WTI crude oil futures are rising above the bullish cross within the 20- and 40-simple moving averages (SMA) but are still hovering below the Ichimoku cloud in the 4-hour chart. The downside momentum appears to have run out of
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WTI futures hover above 4-month lows; bearish bias may run out of steam. WTI crude oil futures declined considerably towards a fresh four-month low of 52.11 on Monday, erasing the medium-term ascending movement in the daily chart. However, the downside momentum appears to have run out of steam as prices have been
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WTI crude futures build a base above the 2½-month trough. WTI crude oil futures found strong support at a fresh two-and-half-month low of 57.40, where the 38.2% Fibonacci retracement level of the upward rally from 42.50 to 66.60 is standing. The price drifted below the ‘golden cross’ of the 50- and 200-simple
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WTI crude futures stand above 23.6% Fibonacci; slightly bullish. West Texas Intermediate (WTI) crude oil futures returned back above the 23.6% Fibonacci retracement level of the up leg from 51.60 to 66.60, around 63.0, holding above the red Tenkan-sen line and the 20-simple moving average (SMA) in the 4-hour chart. The stochastic
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WTI crude futures hover above ‘golden cross’; find support at 23.6% Fibo. WTI crude oil futures found strong support at the 23.6% Fibonacci retracement level from the one-and-a-half-year low of 42.50 to the recent peak of 66.60 over the last two weeks, remaining also above of the ‘golden cross’ within the 50- and 200-day
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WTI oil futures managed to close with marginal gains on Monday after falling below the longer-term 50 and 200-day simple moving averages (SMA) to touch a one-month low of 60.02. The short-term bias, though, remains neutral-to-negative as the MACD is losing steam below its red signal line and moving towards zero, while the RSI seems to be unable to
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WTI oil futures unlock fresh tops in an overbought area. WTI oil futures extended their bullish momentum above the 66 level and towards fresh six-month highs on Tuesday. While the RSI has re-entered the overbought territory, the Stochastics have yet to post a bearish cross above 80, indicating that there is still some room for improvement in the
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WTI futures slow down but still above the rising trend line. WTI futures recorded a stunning rally in the previous weeks towards a fresh five-month high of 64.75, marking a run above the 61.8% Fibonacci retracement level of the down leg from 76.90 to 42.50, around 63.73. This week, though, the price
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WTI oil futures trade overbought at 5-month highs. WTI oil futures picked up further steam early on Tuesday to unlock a fresh 5-month high of 64.74. According to the RSI and the Stochastics, the market is trading in the overbought zone, suggesting that the price could soon reverse lower. Trend signals, however, are still
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