WTI oil has hit session highs above $58.40 after a bullish daily close. Intraday charts are reporting overbought conditions. A pullback to $58.00 could be seen in the next few hours. WTI’s rise to session highs above $58.40 could be short-lived and prices could deflate to $58.00 over the next few hours, according to technical charts. On the 15-minute chart, the relative strength index is creating a bearish divergence (lower highs). Further, the indicator is reporting overbought conditions with an-above 70 print on the 4-hour and hourly charts. Hence, WTI could soon come under pressure. The dips to or below $58.00, however, could be short-lived, as the daily chart moving average convergence divergence histogram has turned bullish and the Black Gold printed a bullish daily close above $57.62 on Tuesday. 15-minute chart Trend: Pullback likely Pivot points 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 NZD/USD: Bear sin control, testing fresh lows in downside pursuit FX Street 4 years WTI oil has hit session highs above $58.40 after a bullish daily close. Intraday charts are reporting overbought conditions. A pullback to $58.00 could be seen in the next few hours. WTI's rise to session highs above $58.40 could be short-lived and prices could deflate to $58.00 over the next few hours, according to technical charts. On the 15-minute chart, the relative strength index is creating a bearish divergence (lower highs). Further, the indicator is reporting overbought conditions with an-above 70 print on the 4-hour and hourly charts. Hence, WTI could soon come under… 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.
