Technical Analysis – 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 upleg 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 oscillator is approaching the overbought levels, giving signals for more upside pressure, however, […]