WTI wavers around late-January 2020 high, eases from $55.00 seems to offer immediate resistance. Overbought RSI conditions can drag the quote back to February top but 21-day SMA will restrict further downside. 10-week-old resistance line lures the bulls beyond $55.00. Despite marking repeated pullback moves from $55.00, WTI remains strong near the highest since January 24, 2020, currently up 0.35% near $54.90, during early Wednesday. In doing so, the energy benchmark keeps the previous day’s upside break of February 2020 top. Though, overbought RSI conditions raise doubt on the quote’s further advances. As a result, intraday sellers may take a risk in case the black gold prices drop below February 2020 peak surrounding $54.70. Following that, the January’s peak surrounding $53.90 and 21-day SMA level of $52.70 will be the key levels to watch, a break of which could change the current uptrend. On the contrary, successful trading beyond $54.70 will keep hammering the $55.00 threshold while targeting an upward sloping trend line from late November, at $57.35 now. Should oil bulls dominate past-$57.35, $60.00 psychological magnet and the last year’s high of $65.35 should gain the market’s attention. WTI daily 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 trades below 38.2% Fib ahead of Eurozone CPI FX Street 1 year WTI wavers around late-January 2020 high, eases from $55.00 seems to offer immediate resistance. Overbought RSI conditions can drag the quote back to February top but 21-day SMA will restrict further downside. 10-week-old resistance line lures the bulls beyond $55.00. Despite marking repeated pullback moves from $55.00, WTI remains strong near the highest since January 24, 2020, currently up 0.35% near $54.90, during early Wednesday. In doing so, the energy benchmark keeps the previous day’s upside break of February 2020 top. Though, overbought RSI conditions raise doubt on the quote’s further advances. As a result, intraday sellers may take a… 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.