WTI price may find immediate support at the nine-day EMA at $70.72, aligned with the 14-day EMA at $70.62. If the 14-day RSI falls below the 50 level, it could signal the start of a bearish trend. WTI price may find resistance to re-entering the ascending channel. West Texas Intermediate (WTI) Oil price extends its losses for the second successive session, trading around $71.40 per barrel during the early European hours on Thursday. The technical analysis of a daily chart indicates a weakening bullish bias as the pair has broken below the ascending channel pattern. However, the 14-day Relative Strength Index (RSI) consolidates just above the 50 level, indicating a bullish bias is still in play. A break below the 50 mark would cause an emergence of a bearish trend.