Technical Analysis – WTI crude oil futures tumble in short-term extending its losses below 61.8% Fibonacci mark
Posted on February 13, 2018 at 10:09 am GMTWTI crude oil futures are continuing the bearish movement following the strong pullback from the 60.80 resistance level during Monday’s session. Prices have been touching the 61.8% Fibonacci retracement level at 59.30 of the up-leg from 54.80 to 66.60 over the last hours, finding strong support obstacle. The bearish picture in the short-term is supported by the RSI indicator. In the 4-hour chart, the aforementioned indicator is moving slightly lower in the negative territory near the 30 level and is [..]