(VIANEWS) – The West Texas Intermediate Crude Oil Market continued to exhibit signs of strength as it attempted to push towards $75 during Friday’s trading session. There is a possibility of reaching a new, higher level by breaking above $75.
DailyForex confirmed that crude oil is the highest-subscribed trade on Wall Street. However, it’s all about the opening trade which can have a significant impact on commodity prices in general. It does not appear that oil has given up on its grip over traders’ imaginations at this stage. It is possible that we could eventually reach the $80 mark if we move to the upside. However, the inverse is also possible.
Crude Oil (CL) is currently on bearish momentum. At 11:04 EST on Monday, 2 August, Crude Oil (CL) is at $71.88 and 2.8% down since the last session’s close.
Today’s last reported volume for Crude Oil is 200232, 100% below its average volume of 51045054512.57.
Crude Oil Range
Regarding Crude Oil’s daily highs and lows, it’s 2.469% down from its trailing 24 hours low of $73.70 and 2.799% down from its trailing 24 hours high of $73.95.
Crude Oil’s last week, last month’s, and last quarter’s current volatility was a positive 0.26%, a negative 0.04%, and a positive 1.24%, respectively.
Crude Oil’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.41% (last week), 1.64% (last month), and 1.24% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Crude Oil’s commodity is considered to be oversold (<=20).
Last news about Crude Oil (CL)
WTI crude oil forecast: market continues to plow higher – 02 August 2021. According to DailyForex on Monday, 2 August, “The West Texas Intermediate Crude Oil market continued to show signs of strength during the trading session on Friday as it tried to break towards the $75 level. ”
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