WTI Technical Analysis: WTI golden cross could signal higher prices ahead

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.

Rajan Dhall, MSTA FX Daily

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.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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