WTI Price Analysis: Bulls attack three-week-old resistance below $115.00

• WTI bulls take a breather at 11-day top amid overbought RSI.
• Sustained trading beyond the key SMAs keep buyers hopeful but a clear break of $115.00 becomes necessary for bulls.

WTI crude oil prices seesaw around a two-week high, easing to $113.60 during the early Asian session on Thursday.

The black gold’s latest pause could be linked to a failure to overcome a short-term important resistance amid overbought RSI conditions. Even so, the commodity’s sustained trading beyond the 100 and 200-SMA keep WTI buyers positive.

That said, a pullback towards the 100-SMA level surrounding $107.70 can’t be ruled out. However, any more weakness will make the quote vulnerable to decline towards breaking the $100.00 threshold while eyeing the 200-SMA near $99.70.

Should the WTI bears dominate past 200-SMA, the monthly low surrounding $92.36 will be on their radar.

Alternatively, an upside break of the aforementioned horizontal area established since March 03, around $115.00-114.70, will propel the quote towards $125.00.

Following that, the latest multi-month high of $126.51 will challenge the WTI bulls before directing them to the $130.00 threshold.

WTI: Four-hour chart

Trend: Pullback expected