WTI crude oil buyers defend the $91.00 breakout heading into Tuesday’s European session. In doing so, the black gold justifies the previous day’s upside break of the 100-SMA, as well as the bullish MACD signals.
Additionally, the lower high on prices joins the higher high on the RSI (14) to portray the hidden bullish divergence of the commodity.
As a result, the quote aims for the downward sloping resistance line from late July, around $92.30.
However, the energy benchmark’s further upside hinges on how well the buyers can cross the 200-SMA hurdle surrounding $93.65.
Additionally, the lower high on prices joins the higher high on the RSI (14) to portray the hidden bullish divergence of the commodity.
As a result, the quote aims for the downward sloping resistance line from late July, around $92.30.
However, the energy benchmark’s further upside hinges on how well the buyers can cross the 200-SMA hurdle surrounding $93.65.