WTI’s bounce stalls near Wednesday’s high of $53.93. The 4-hour chart indicator signals scope for a pullback. West Texas Intermediate (WTI) crude, the North American oil benchmark, is trading near $53.70 at press time, representing a 0.22% gain on the day. Having turned higher from $52.24 on Thursday, prices almost tested Wednesday’s high of $53.93 a couple of hours ago before pulling back slightly. Another rejection near $54.00 would imply uptrend exhaustion and invite some chart-driven selling (or profit-taking), yielding a price pullback. Thursday’s low of $52.24 is the immediate support, followed by $50.00. The bearish divergence of the 4-hour chart Relative Strength Index (RSI) favors price pullback. That said, the overall trend would remain bullish as long as prices are held above the former hurdle-turned-support of $49.43 (Dec. 18 high). Key resistance is located at $54.66 (Feb. 20 high). 4-hour chart Trend: Bullish Technical 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 BOK’s Lee: To keep easing stance until stable recovery expected FX Street 2 years WTI's bounce stalls near Wednesday's high of $53.93. The 4-hour chart indicator signals scope for a pullback. West Texas Intermediate (WTI) crude, the North American oil benchmark, is trading near $53.70 at press time, representing a 0.22% gain on the day. Having turned higher from $52.24 on Thursday, prices almost tested Wednesday's high of $53.93 a couple of hours ago before pulling back slightly. Another rejection near $54.00 would imply uptrend exhaustion and invite some chart-driven selling (or profit-taking), yielding a price pullback. Thursday's low of $52.24 is the immediate support, followed by $50.00. The bearish divergence of the 4-hour… 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.
