UKOil last traded at 107.56, up 3.67% on the session.

Daily picture

The daily trend is up: price holds above the 50-day average, and the 50-day sits above the 200-day. At 107.56, UKOil is 6.48% above its 20-day average of 101.02, 10.06% above the 50-day of 97.73, and 13.28% above the 200-day of 94.95 β€” the three averages are stacked in rising order, with each shorter average above the longer one.

Daily RSI(14) reads 66.3, a neutral value that sits inside the 30-70 band and below the 70 overbought threshold. The 14-day ATR is 3.45 in price terms, equal to 3.21% of the current price. The session’s 3.67% advance is wider than the 3.21% average daily range implied by that ATR. Set against UKOil’s own trailing year, that ATR falls in the 56th percentile, placing current daily volatility near the middle of its twelve-month range rather than at either extreme.

Price stands 10.76% below the 52-week high of 120.53 and 82.62% above the 52-week low of 58.90, a span that puts it at the 79th percentile of its 52-week range. The high was last reached 145 sessions ago β€” roughly seven months β€” while the low was set 258 sessions ago, close to a full year back near the start of the window, so of the two extremes the high is the more recent. Over the past 20 sessions the swing high is 107.91 and the swing low 94.67; extending the window to 60 sessions keeps the swing high at the same 107.91 β€” the three-month peak was printed within the last 20 sessions β€” while the swing low drops to 82.13, showing the recent floor sits well above the wider one. Current price is just under that 107.91 swing high.

Weekly picture

The weekly timeframe agrees with the daily one. It is also an uptrend, with price above the 20-week average and the 20-week above the 50-week. On this timeframe UKOil is 19.11% above its 20-week average of 90.31 and 24.90% above the 50-week of 86.12 β€” wider stretches than the daily averages show. The latest weekly bar added 5.98%, and weekly RSI(14) is 62.5, also neutral and below 70; momentum on both timeframes reads the same direction, with the daily RSI marginally higher than the weekly.

These readings draw on 340 daily and 58 weekly bars. Across longer horizons UKOil is up 4.74% over the past week, 7.05% over the month, 24.05% over the quarter and 75.67% over the trailing year.

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