WTI found support at 101.00 after falling heavily on Monday. The main reason is the rollback in US and EU stock markets, which were caused by the hopes that the Fed will take a pause in raising rates due to a possible slowdown in US inflation for April.
Technical picture:
The quote is below the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. Meanwhile, both the relative strength index (RSI) and stochastic indicator are moving above the oversold zone.
Possible dynamics:
Oil could rise to 107.75.
