RHB Investment Bank Bhd (RHB Research) has maintained its short positions on WTI Crude, citing the commodity's inability to break above the US$72 resistance level despite forming a "Three White Soldiers" candlestick pattern. The research house advised traders to hold their short positions initiated at US$70.58, with a stop-loss set at US$72.

WTI Crude closed at US$71.72 in the last trading session, gaining US$0.73 amid fresh buying interest. Opening at US$71.15, the black gold oscillated between US$72.02 and US$70.87 before settling near its immediate resistance level. The research house noted that the recent candlestick formation suggests a strengthening bullish momentum, but they remain cautious about declaring a definitive trend reversal.

Market sentiment is expected to improve if the commodity breaches the US$72 mark, potentially setting the stage for a rally toward US$76. However, RHB Research pointed out that the technical outlook remains bearish as long as prices fail to close decisively above this key resistance level.

On the downside, immediate support is identified at US$68, with a lower support level at US$64. The research house also observed that the broader technical setup, including the resistance at US$72 and the commodity's positioning below critical moving averages, supports their negative trading bias.

While the session's upward movement hints at renewed buying interest, RHB Research emphasised the need for a confirmed breakout before shifting to a more positive stance on WTI Crude. Until then, traders are advised to adhere to existing strategies, prioritising risk management in the volatile oil market.