Technical Analysis – WTI oil futures consolidate around key 57 level after rally loses steam
WTI Oil futures have paused after a strong rally from 49.07 to 57.89. The market reached overbought levels on the 4-hour chart, as indicated by RSI rising above 70, and consequently, prices corrected lower and fell below the key 57.00 level. A falling RSI is tilting immediate risk to the downside. A dip in the […]