WTI Oil: Bulls Hold Grip But May Take a Breather on Overbought Daily Studies

<p><img width="479" height="359" src="https://www.actionforex.com/wp-content/uploads/tag-images/oil1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://www.actionforex.com/wp-content/uploads/tag-images/oil1.jpg 479w, https://www.actionforex.com/wp-content/uploads/tag-images/oil1-300×225.jpg 300w, https://www.actionforex.com/wp-content/uploads/tag-images/oil1-80×60.jpg 80w, https://www.actionforex.com/wp-content/uploads/tag-images/oil1-265×198.jpg 265w" sizes="(max-width: 479px) 100vw, 479px" /></p>
<p>WTI oil remains at the front foot and trading near one-month high, posted on Wednesday, after release of crude inventories report. Much stronger than expected drop in US crude stocks, mainly caused by bad weather, added to existing bullish near-term structure and lifted the price above pivotal Fibo barrier at $75.04 (61.8% of $79.57/$67.70 descend). […]</p>
<p>The post <a href="https://www.actionforex.com/contributors/technical-analysis/536842-wti-oil-bulls-hold-grip-but-may-take-a-breather-on-overbought-daily-studies/">WTI Oil: Bulls Hold Grip But May Take a Breather on Overbought Daily Studies</a> appeared first on <a href="https://www.actionforex.com">Action Forex</a>.</p>

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