WTI climbed back in anticipation of extended production cuts by OPEC+ in their upcoming meeting in April. The pullback would be temporary as an RSI divergence showed a loss in the sell-off.
Following a rebound from the support at 57.20, an RSI double top in the overbought area suggests that the US crude has been consolidating in search of momentum.
The latest breakout above the psychological level at 62.00 is a confirmation that buyers have regained control and the price could be on its way to 65.
