WTI oil futures (February delivery) have been stuck in a downtrend since June but managed to bounce at the one-year low of 70.30 and recoup some losses. However, this recovery proved to be short-lived after the 50-day simple moving average (SMA) curbed the commodity’s upside. The momentum indicators currently suggest that bearish forces have gained the upper […]
The post WTI Oil Futures Retreat after 50-day SMA Rejects Advance appeared first on Action Forex.
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