USOil (USOil) last traded at 100.74, up 6.65% on the session.

Trend and moving averages

The daily structure is described as above the 200-day average but with a mixed short-term structure. Price sits 15.09% above its 20-day SMA (87.53), 19.88% above its 50-day SMA (84.03), and 18.89% above its 200-day SMA (84.73). All three averages are clustered within about three points of each other while price stands well clear above them, a stretch that has opened up during the recent advance.

Momentum and volatility

The 14-day RSI reads 80.0, an elevated level often described as overbought. The 14-day ATR is 3.18, or 3.15% of price. Against the instrument’s own past year, that volatility sits at the 57th percentile β€” around the middle of its twelve-month range, so current daily swings are neither unusually calm nor unusually wide.

Price has now posted 5 consecutive higher closes, a run consistent with the 6.65% session gain and the elevated momentum reading.

Range and position

USOil trades 15.69% below its 52-week high of 119.49 and 83.2% above its 52-week low of 54.99, placing it at 71 of its 52-week range. The 52-week high was set 158 sessions ago and the low 229 sessions ago, so both extremes are well behind the current market. The 20-day swing high is 100.75 with a swing low of 79.33; the 60-day swing high is also 100.75 against a 60-day swing low of 68.56. The current price of 100.74 is effectively level with those swing highs, marking the upper edge of the recent range.

Weekly picture

The weekly frame reads as an uptrend, with price above the 20-week average and the 20-week above the 50-week. Price sits 16.32% above the 20-week SMA (86.61) and 29.7% above the 50-week SMA (77.67), and last week closed up 11.82%. The weekly RSI is 61.9 β€” firmly positive but well below the daily reading of 80.0. The two timeframes broadly agree on direction, though the weekly momentum is far less stretched than the daily.

Over the trailing year USOil is up 62.47%, with gains of 12.51% over the past week, 23.25% over the month, and 18.25% over the quarter.

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