WTI oil futures for February delivery dived beneath the three-and-a-half-month high of 62.33 reached on December 30 and the momentum seems to be weak. The price has remained within a bullish wave since October and it touched the upper boundary several times over the last two weeks. The location of the RSI, which maintains a negative slope below its 70 mark, keeps the very short-term bias in neutral-to-bearish territory. Moreover, the MACD oscillator declined below its red trigger line, suggesting a negative move, while the price dropped below the [..]
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