WTI Technical Analysis Signals ‘Sell’ to Some Investors: Chartby
A closely-watched technical indicator signals West Texas Intermediate crude may decline, according to Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York. The U.S. oil benchmark’s 50-day moving average slipped today below the 100-day moving average for the first time in more than a year. The last time it happened, prices proceeded to slump 13 percent. Next up: to watch for whether the 50-day falls below the 200-day, which would be an even stronger ‘sell’ sign, he said.