WTI Price Analysis: Oil extends recovery from multi-month low towards $72.00

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• WTI picks up bids to extend recovery from December 2021.
• RSI rebound from oversold territory favors corrective bounce off the WTI Crude Oil price.
• Bearish MACD signals, multiple hurdles towards the north hint at limited upside room.

WTI crude oil prints a three-day uptrend as it extends a corrective bounce from the lowest levels since December 2021 to $71.70 heading into Monday’s European session.