WTI Oil Prices Ease But Bullish Momentum Persists

West Texas Intermediate (WTI) oil prices have eased slightly on Friday following a 6% rally the previous day, but momentum remains firmly bullish. The RSI is near 65 and the ADX points to a strengthening trend, indicating that buyers retain control.

The price of WTI has rebounded from near $67 at the start of the month and has reclaimed its key moving averages, with the 100-day SMA providing immediate support around $88.30. This level is considered a crucial benchmark for oil prices.

Despite some profit-taking, analysts expect WTI to continue its upward trajectory, potentially reaching the psychological $100.00 mark or even the war-driven peak near $113.00 if sustained above Thursday's high of $92.25.