Crude Oil

(Last Updated January 18, 2021)

Hello! This is the news page for Crude Oil. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

The Trend

On CL1, there is currently an uptrend on the 90, 30 and 14 day timeframes.

CL1 Moving Averages

The moving averages on CL1 indicate a trend that is clearly bullish.

Below is a chart showing CL1’s price with its moving averages.

The View From the Weekly Timeframe

At the moment, CL1’s price is up $0.12 (0.23%) from the week prior. CL1 has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CL1. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows CL1’s price action over the past year.