Commodities
WTI Oil Prices Stall at $85.00 Resistance
WTI oil prices are consolidating for the third consecutive day, hovering around $84.30 in the Asian session on Thursday.
The price of West Texas Intermediate (WTI) has been struggling to break above the $85.00 psychological mark and overcome the 61.8% Fibonacci retracement level at $85.17, a key barrier for bulls.
Despite this resistance, WTI remains in a bullish near-term bias, supported by its position above the 200-period Exponential Moving Average (EMA) on the 4-hour chart and the 50.0% retracement levels at $80.78 and $82.95.