WTI oil futures (March delivery) have been stuck in a prolonged downtrend since June, generating a fresh one year-low of 70.30 in December. Even though the commodity managed to recoup some losses and break above its 50-day simple moving average (SMA), its rebound seems to be running out of juice. The momentum indicators currently suggest that near-term risks […]
The post WTI Oil Futures Consolidate Above 50-day SMA appeared first on Action Forex.
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