WTI oil futures are trading around the 57.11 area, which is the 50.0% Fibonacci retracement of the down wave from 63.22 to 50.98, with an undecided direction in hand. Oil has realigned with the positive picture, climbing above 56.90 but then adopted a range (55.66 – 57.83) in the last week, something also viewed in all the Ichimoku lines as they have converged. The short-term oscillators suggest that directional momentum has disappeared but lean towards a positive outlook. The MACD [..]
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