WTI holds on to the recent upside while around 50-DMA. A daily close above 50-DMA at $41.25 needed to extend the rally. RSI remains bullish, $40.75 is critical support. WTI (futures on Nymex) consolidates the three-winning streak above $41 mark on Friday, as the bulls await a fresh catalyst for the next push higher. At the momentum, the price has formed a Doji candlestick on the daily chart, suggesting bullish exhaustion after the solid recovery from three-month lows of $36.43 to two-week highs of $41.75. The bulls need a daily closing above the 50-day Simple Moving Average (DMA) at $41.25 to extend the recovery momentum. The next upside target is aligned at $42.07, the September 4 high. The 14-day Relative Strength Index (RSI), currently at 54.60, trades flat but remains in the bullish region. Therefore, the additional upside cannot be ruled out in the near-term. Meanwhile, $40.75 is the level to beat for the bears. The level is the confluence of the downward-sloping 21 and 200-DMAs. Selling pressure will likely intensify below the latter, which could trigger a fresh sell-off towards the bullish 100-DMA at $38.24. WTI: Daily chart WTI: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY slips below mid-135.00s, fresh session lows amid notable JPY demand FX Street 2 years WTI holds on to the recent upside while around 50-DMA. A daily close above 50-DMA at $41.25 needed to extend the rally. RSI remains bullish, $40.75 is critical support. WTI (futures on Nymex) consolidates the three-winning streak above $41 mark on Friday, as the bulls await a fresh catalyst for the next push higher. At the momentum, the price has formed a Doji candlestick on the daily chart, suggesting bullish exhaustion after the solid recovery from three-month lows of $36.43 to two-week highs of $41.75. The bulls need a daily closing above the 50-day Simple Moving Average (DMA) at $41.25… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.