WTI set to retreat lower after pipeline problems

Oil retreated from its highest close in more than two years amid low volume, as a pipeline carrying crude to Libya’s export terminal was said to need a week for repairs following an explosion on Tuesday.
The oil prices rose to the highest level since June 2015 in reaction to the threat of major oil distribution problem but restored some of its lost value throughout Wednesday.
The North American benchmark WTI is trading down 0.55% at $59.55 a barrel while the North Sea benchmark Brent is down 1.1% at $66.28 a barrel afternoon in London.
Technically the WTI is strongly within Overbought territory with both Relative Strength Index and Slow Stochastics indicating retracement lower with a bearish crossover.
The Momentum indicator is up 1.84 but pointing downward.

WTI daily chart