Technical Analysis – WTI builds confidence above Ichimoku cloud

WTI oil futures pierced above the 100-day simple moving average (SMA) located at the 36.10 level, that being the 50.0% Fibonacci retracement of the down leg from 65.61 to 6.62. The commodity’s correction from the 6.62 bottom has breached the Ichimoku cloud and looks to be preparing to accelerate above a critical limiting region. Additionally, […]