WTI steps back after refreshing multi-day high, RSI drops from overbought area. 100-HMA adds to the downside filters, February 2020 top lures bulls. Having initially jumped to the fresh high since February 2020, WTI drops to $52.25, down 0.47% intraday, during Monday’s Asian session. The oil benchmark seems to take clues from the overbought RSI conditions while stepping back from a multi-day high. As a result, an upward sloping trend line from last Tuesday, at $51.65 now, gains energy sellers’ attention. However, the quote’s downside past-$51.65 will be challenged by Thursday’s high near $51.30 and the $50.00 psychological manget, not to forget the 100-HMA level of $50.25. Meanwhile, fresh buying will eye the February 2020 peak surrounding $54.70 wherein the latest top near $52.80 and the $53.00 round-figure can offer intermediate stops during the upside. Overall, oil prices are in an upward trajectory since early November and hence the recent pullback can be taken lightly by WTI buyers unless it breaks an upward sloping trend line from November 02, near $48.50. WTI hourly chart Trend: Pullback expected 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 EUR/USD Price Analysis: 38.2% Fibonacci 1.2220 in focus FX Street 1 year WTI steps back after refreshing multi-day high, RSI drops from overbought area. 100-HMA adds to the downside filters, February 2020 top lures bulls. Having initially jumped to the fresh high since February 2020, WTI drops to $52.25, down 0.47% intraday, during Monday’s Asian session. The oil benchmark seems to take clues from the overbought RSI conditions while stepping back from a multi-day high. As a result, an upward sloping trend line from last Tuesday, at $51.65 now, gains energy sellers’ attention. However, the quote’s downside past-$51.65 will be challenged by Thursday’s high near $51.30 and the $50.00 psychological manget, not… 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.