After a pull back to the 67.80 support (Higher Low) on the 4H scale, WTI is rebounding again towards the 70.60 Resistance. Since the Higher Low supporting line on 1D held (bold black), the medium term bullish trend
is intact ( MACD
= 0.090, B/BP = 0.2200) despite the obvious neutral bias ( RSI
= 52.856, Highs/Lows = 0.0000) that are dsiplayed since USOIL
trades below the 70.60 Resistance. Technically the emerging 4H Channel Up ( RSI
= 52.512) should attempt a 71.88 Higher High this week. We remain bullish
with TP = 71.88 and 72.86 extension intact.