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  • WTI trades just above flat on Friday after breaking an important trendline.
  • Moves higher have been losing momentum as we near the RSI oversold level.

WTI Daily Chart

WTI has been grinding higher over the last few sessions.

The market has been dealing with a glut and the OPEC+ nations agreed on a new round of cuts.

Today the market will get the latest DoE inventory levels and the recent trend has been lower.

The moving averages have crossed higher with a golden cross and  this is traditionally a bullish signal.

WTI analysis