Technical Analysis – WTI oil futures hold bearish short-term bias below 50 key level

WTI Oil futures shifted to a more bearish bias after breaking below the psychological level at 50. The short-term outlook points to further weakness in the market since technical signals are bearish. On the 4-hour chart, both MACD and RSI are in bearish territory. The 20 and 50-period moving averages are negatively aligned and sloping […]