Technical Analysis – WTI crude oil find immediate obstacle at 42.90
Posted on August 18, 2020 at 12:46 pm GMTWTI crude oil futures have found significant resistance at the 42.90 barrier over the last couple of weeks. The technical indicators are showing mixed signals as the RSI is pointing slightly down, while the MACD completed a bullish crossover with its trigger line above the zero line. The Ichimoku lines and the moving averages are still signaling a somewhat upside tendency in the 4-hour chart. In the wake of positive pressures, the market could meet resistance at the five-month high [..]