The energy commodity managed to break the resistance at $85.39 which is the highest level it has reached since October 2014.
The Bollinger bands continue to open up aggressively, which indicates that the uptrend is likely to continue; however, the pair trades above the upper band, suggesting that the price is relatively low, which would likely bring the price down a bit before it can continue the uptrend.
The relative strength index is at 73%, an overbought status that might bring the price down temporarily in the short term. A price correction is almost imminent at this point, but we don't know when it could begin. We have seen XTIUSD stay overbought for up to eleven sessions in recent months.
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