Technical Analysis – WTI oil futures sank below 20-SMA; lacks direction in very short-term

Since its deep fall towards the multi-year low of 19.32 in the end of March, WTI oil futures have been fluctuating around the 20-day simple moving average (SMA). The technical picture supports that the selling interest is likely to remain in the short-term. The stochastic oscillator bounced off the overbought zone and is heading south, while the RSI is pointing down in […]