WTI Crude Oil Futures Accumulate Bullish Momentum, Eyes $104 Resistance on May 20

GateNews
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According to Economies.com analysts, on May 20, WTI crude oil futures continued to accumulate bullish momentum in intraday trading, attempting to break through the stubborn $104.00 resistance level. The price remained supported above the 50-day exponential moving average (EMA50) and along key uptrend lines, reinforcing the stability of the primary bullish trend. However, the relative strength index (RSI) signals suggest caution, potentially limiting near-term rally strength until sufficient buying pressure emerges.
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