WTI Price Forecast: Struggles to reclaim $100, outlook remains firm
WTI US Oil declines to near $97.20 during the day. However, the near-term bias stays constructive as price holds above the 20-day exponential moving average (EMA) at roughly $95.80, suggesting the recent pullback remains a correction within an uptrend. The Relative Strength Index (RSI) around 53 keeps a neutral-to-positive tone, hinting that upside momentum is still intact but not overstretched. On the downside, immediate support aligns with the 20-day EMA at $95.80, where a break would expose a deeper retracement toward $90. As long as buyers defend this moving average on closing bases, the broader recovery bias is likely to persist, leaving scope for fresh attempts toward the recent highs around the $100 handle, followed by the April 30 high of $107.35.