Technical Analysis – WTI futures flirt with short-term downtrend line after bounce off multi-year low

WTI crude oil futures rebounded on the multi-year low of 19.25 on Monday, struggling beneath the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud in the 4-hour chart. However, the RSI is pointing upwards in the negative territory, approaching the 50 level, while the stochastic is flirting with the overbought zone. Immediate resistance, […]