Crude trades lower after the recent increase. The price is now above 114.40 ahead of fresh data on the US labor market. The market may show a mixed reaction to the results. If sentiment changes, crude will go down. Otherwise, the uptrend will extend.
Technical picture:
The price is below the middle Bollinger band, the SMA 5, and the SMA 14. The Relative Strength Index tests line 50, signaling a weaker downtrend. There is the stochastic crossover in the oversold zone.
Technical picture:
The price may fall to 111.70 in case of consolidation below 114.40.
