WTI Crude oil correction seems to be over. It didn’t even reach the 0.382 retracement at 87.58 before buyers seem to regain control.
WTI is likely to have another go at the strong resistance at around 93.74.
If it closes above there is no strong resistance until around 104.80. Minor resistance at around 98.62.
Daily RSI is showing positive sentiment and no divergence indicating that a new high above 93.74 is quite likely.IF WTI slides back below 88.20 it could be hit with a sell-off down to test the lower rising trendline, but a move down to support at around 83.58 could also be seen