USOil Technical Snapshot: Price Holds Above All Three Key Moving Averages

USOil is trading at 83.59, down 6.51% on the session.

Trend

The structure reads as an uptrend, with price above the 50-day and the 50-day above the 200-day. Price sits 6.12% above its 20-day SMA (78.77), 3.32% above its 50-day SMA (80.90), and 5.05% above its 200-day SMA (79.57). All three averages currently sit below the last price, and the shorter 20-day average is the nearest of the group.

Momentum and Volatility

The 14-day RSI reads 54.8, which falls in the neutral 30-70 band — neither an overbought nor an oversold reading. The 14-day ATR stands at 3.89 in price terms, equal to 4.65% of the current price, a gauge of the average daily range over the recent window.

Range

Price is 30.04% below its 52-week high of 119.49 and 52.02% above its 52-week low of 54.99. Over the last 20 sessions the swing high sits at 92.44 and the swing low at 68.56, with the current price positioned between the two. Widening the lens to 60 sessions, the swing high is 109.32 and the swing low 67.95, both prior reference points from the recent record.

Over the longer horizon the year-to-date performance shows a 38.08% change, with the month up 21.31%, the week up 1.63%, and the quarter down 17.27%.

Descriptive technical summary generated by the ForexBullion Research Team from our own price feed. Not investment advice.