WTI technical analysis: en-route for the 200-D EMA around 58.80

• WTI is  en-route for the 200-D EMA around 58.80
• If price can’t sustain a bid, bears can target back down to the 200 weekly EMA.

WTI was capped at the weekly 20-Experiential Moving Average. Bulls ran higher  through the 20-D EMA and topped the 50-D EMA. Bulls are on track  for the 200-day  Exponential Moving Average, (EMA), and 4-hour  200 EMA.

A break there will expose the 30th May highs of $59.67 and of course the $60 psychological level. On the downside, the  200 weekly EMA (last  week’s low) and the 61.8% Fibo come into focus that guard  prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44.