Technical Analysis – WTI futures turn up from multi-year low in the near term
WTI crude oil futures produced the multi-year low of 20.50 on Wednesday, pivoting up to touch the inside swing low from January 2016 at 27.54. The commodity surpassed the 20-period simple moving average (SMA), suggesting a potential bullish correction in the very short-term. This slightly bullish action is confirmed by the technical indicators. The RSI […]
Technical Analysis – WTI futures turn up from multi-year low in the near term
WTI crude oil futures produced the multi-year low of 20.50 on Wednesday, pivoting up to touch the inside swing low from January 2016 at 27.54. The commodity surpassed the 20-period simple moving average (SMA), suggesting a potential bullish correction in the very short-term. This slightly bullish action is confirmed by the technical indicators. The RSI […]
