Technical Analysis – WTI futures’ correction calms ahead of the 50-day SMA
Posted on May 7, 2020 at 6:46 am GMTWTI oil futures’ pullback ran out of steam before reaching the 50-day simple moving average (SMA) at the 26.00 handle. This price stall can also be seen in the hovering of the RSI above the 50 level and the smoothing of the incline of the red Tenkan-sen line. The short-term oscillators provide conflicting opinions. Looking at the RSI, it has run above its neutral mark while the MACD, in the negative zone, is increasing above its red trigger line towards [..]