Free Trial

WTI Extends Winning Streak, RSI Flashes Overbought

COMMODITIES
  • WTI cemented 14 consecutive sessions of higher highs Tuesday, with the front-month contract creeping higher to touch a new cycle best of $72.03/bbl. The persistent rally has now pushed the WTI RSI into overbought territory, which may suggest the rally could decelerate going forward, although momentum remains in tact for now.
  • Both Brent and WTI saw support off the back of reports that Iran had completed the production of over 100kg of 20% enriched uranium, directly running against US sanctions agreements and lessening the likelihood of a return to international energy markets for Iranian crude supply.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.