WTI crude oil trades mildly higher today with focus now back on 47.66 temporary top. Break will resume rise from for 50 handle and above. We’re looking at a long term resistance in 55 month EMA at 52.79 to limit upside, at least on first attempt. However, considering bearish divergence condition in 4 hour MACD, break of 44.87 will indicate short term topping. Deeper pull back could then be seen to 55 day EMA at 42.49.
