WTI Price Forecast: Breaks above $100 as Trump says China will buy US Oil
WTI US Oil trades at $100.05 amid a near-term bullish tone. The Relative Strength Index (RSI) on the 4-hour chart is at 64.22, highlighting a solid upside momentum, while the Moving Average Convergence Divergence (MACD) has turned back into positive territory, hinting that buyers are regaining control after the latest consolidation. If price action consolidates above the $100 psychological, the next upside targets emerge at the early May highs, in the $103.80 area, followed by the April 30 high, at $107.35. On the downside, immediate support is seen at Thursdays low of $95.11 ahead of the May 8 low, near $90.90, and the area between May 6 and 7 lows, at $86.90-$87.55.