Crude Oil

(Last Updated April 15, 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

As for trends on CL1, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

CL1 Moving Averages

The moving averages on CL1 summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, suggesting the trend is generally upward, aside from a decline about 3 weeks prior.

The chart below illustrates.

The View From the Weekly Timeframe

At the moment, CL1’s price is up $3.83 (6.46%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. 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.