SIDEWAYS TO DOWN before NY Lunchtime
WTI prices appear to be on the verge of breaking a supportive trendline from the December swing low. The next level of potential support below the trendline is the rising 100-day Simple Moving Average (SMA). The 20-day SMA crossed below the 50-day SMA last week, a bearish sign. The Relative Strength Index (RSI) and MACD oscillators both crossed below its mid-lines, also a bearish momentum signal.
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