WTI Technical Analysis: $54.15-20 becomes immediate obstacle towards $55.55

• WTI trades around $54.10 during the early Asian trading on Thursday.
• The commodity needs to surpass $54.15-20 horizontal-resistance in order to aim for early-month high of $55.55. However, overbought levels of 14-bar relative strength index (RSI) may limit further upside.
• In case buyers refrain to respect the $55.55 barrier, 61.8% Fibonacci expansion of its early January-February move, around $57.50, can flash on their radar to target.
• Given the pair’s inability to rise past-$54.20, it can come back to $53.60 and $52.80 while an upward sloping trend-line connecting lows marked since January can hold further downside captive near $52.00.
• If at all prices keep declining under $52.00, $51.10 and $50.30 may entertain sellers ahead of pleasing them with $50.00 round-figure.

WTI 4-Hour chart