WTI crude oil is still moving above its ascending trend line on the hourly time frame, and a bounce off support could take it to the bullish targets marked by the Fibonacci extension tool. The 38.2% Fib is close by at $78.48 per barrel, then the 50% level is in line with the swing high at $79.13 per barrel. Stronger bullish momentum could take crude oil up to the 61.8% extension at $79.78 per barrel or the 76.4% level at $80.59 per barrel. The full extension is at $81.89 per barrel. The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold ... (full story)