- WTI holds onto recovery gains triggered the previous day.
- Buyers observe normal RSI conditions to probe 100-HMA.
- $16.20 adds to the resistance, $10.00 acts as additional support.
While extending its recovery moves from $13.60, WTI future fur June rises to $15.10, up 5.5% on a day, with an intraday high of $15.55, ahead of the European session on Thursday.
In doing so, the energy benchmark probes a 100-HMA level of $15.30 that holds the key for the further upside towards Wednesday’s high of $16.20.
On a break of $16.20, buyers will not hesitate to question the weekly top surrounding $21.30.
Alternatively, a break below the immediate support line, near $14.15 now, could recall sellers targeting $10.00.
Though, the black gold’s further downside will be challenged by $7.00 and the previous day’s low close to $6.45.
WTI hourly chart
Trend: Further recovery expected.
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