Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

WTI crude oil futures now up over 20% on the day

A.R Chowdhury by A.R Chowdhury
May 5, 2020
Reading Time: 1 min read
0

Continued the rally to the upside

the price of WTI crude oil futures are now up 20.4% on the day. The contract is up $4.16 at $24.54. The high price just reached $24.63.

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

The July contract is also higher but at a slower pace. It is up $3.50 or 15.36% at $26.30.

With the front contract up more than the 2nd contract, the spread between the two contracts is narrowing. It currently it is around $1.80.

Technically, the price is getting closer to the 61.8% retracement of the move down from the January 2020 high to the April low. That level comes in at $25.17. Just above that it is the 50 day moving average at $25.51. I would expect that sellers might look to lean against that area on the 1st test with stops on a move above. However be aware for fast-markets in which case, don’t be so anxious to sell until the volatility runs its course (and there is a fail above the area).

Crude oil is trading at the highest level since mid April
See here for global coronavirus case data

Source link

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

WTI crude oil futures settle at $24.56 a barrel

Major indices close higher, but well off the highs for the day

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Dollar makes a run lower. New session lows vs. a number of major currencies

July 1, 2020

European indices close mostly higher

August 30, 2021
GBPUSD bounces back higher today after the up and down day yesterday

GBPUSD bounces back higher today after the up and down day yesterday

March 30, 2022

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • What is Leverage AND Margin in Forex trading?

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.