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  • WTI is corrected down near the 36.00 figure
  • The overall risk-on mood is supporting oil prices. 
 

WTI four-hour chart

 
WTI is trading just above the 36.00 figure while above the main SMAs on the four-hour chart as the market bias remains tilted to the upside. A potential extension of the move up can lead to a retest of the 38.40 and 40.20 levels in the medium-term. On the flip side, a clear break below the 36.00 support could lead to a deeper retracement down towards the 34.20 level initially.
 
 

Additional key levels