Oil Price to Hold Above Pre-Pandemic Levels on Overbought RSI Reading
(MENAFN - DailyFX) Oil Price Talking Points The price of oil extends the advance from the previous week as severe weather conditions in Texas force US producers to cut or freeze crude output, and the persistent overbought reading in the Relative Strength Index (RSI) may continue to coincide with higher oil prices like the behavior seen earlier this year. Advertisement Oil Price to Hold Above Pre-Pandemic Levels on Overbought RSI Reading The price of oil appears to be breaking out of the ascending channel established in November as it climbs to a fresh monthly high ($61.26), and crude may con...