WTI stays pressured after rising to two-week top the previous day. Immediate falling trend line, bearish MACD suggests further weakness. An upward sloping trend line from June 15 offers immediate support. Bulls will have to cross June month top to aim for February high. WTI takes rounds to $40.50/40 as the Tokyo session opens for Wednesday. The energy benchmark repeated failures to cross $41.00 so far during the current week. In its latest attempt on Tuesday, the quote reversed from $40.99. Considering the commodity’s inability to stay strong beyond $40.00, coupled with the bearish MACD signals, the sellers are likely to wait for an entry. As a result, a three-week-old support line, at $39.70, becomes the key to watch. If at all the buyers get defeated with a price level below $39.70, June 24 top near $39.40 and 61.8% Fibonacci retracement level of June 15-23 rise, around $37.30, will return to the charts. On the contrary, a clear break above the immediate resistance line, at $40.96 now, will need a sustained cross past-June month high of $41.65 to challenge February month low surrounding $44.00. WTI four-hour 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 Bitcoin Price Analysis: BTC/USD bears currently look to conquer support at SMA 20 curve FX Street 3 years WTI stays pressured after rising to two-week top the previous day. Immediate falling trend line, bearish MACD suggests further weakness. An upward sloping trend line from June 15 offers immediate support. Bulls will have to cross June month top to aim for February high. WTI takes rounds to $40.50/40 as the Tokyo session opens for Wednesday. The energy benchmark repeated failures to cross $41.00 so far during the current week. In its latest attempt on Tuesday, the quote reversed from $40.99. Considering the commodity’s inability to stay strong beyond $40.00, coupled with the bearish MACD signals, the sellers are likely… 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.