Crude Oil WTI Stuck in Chop Zone as Bulls and Bears Clash

Crude Oil WTI is currently consolidating near recent highs at $85.11, which is less than 3% off August's peak at $87.69.

The long-term uptrend remains strong, but momentum is clearly cooling as the MACD has flashed a bearish crossover and RSI slips to a neutral 52.

Traders are facing a tug-of-war between bulls and bears, with the key battle zone landing squarely in the $84.50-$86.50 'chop zone', where false breakouts and whipsaws are common.