UKOil, a commodity CFD, last changed hands at 103.44, a fall of 6.57% on the session.

The daily structure reads as an uptrend, with price above the 50-day average and the 50-day above the 200-day. The three averages are stacked in rising order β€” the 20-day at 107.48, the 50-day at 102.84 and the 200-day at 96.57. Against them, price sits 0.58% above the 50-day and 7.11% above the 200-day, but 3.76% below the 20-day after the session’s drop pulled spot beneath the shortest of the three.

Momentum and volatility

Daily RSI(14) reads 44.0, inside the neutral 30-70 band and below the 50 midline, while the weekly reading of 56.6 sits above it. ATR(14) stands at 3.51, equal to 3.39% of price; measured against the instrument’s own past year, that volatility sits at the 58th percentile β€” modestly above its twelve-month median rather than at an extreme. The session’s 6.57% fall ran to nearly double that 3.39% average daily range. Price has recorded 2 consecutive lower closes.

Within its range, UKOil is 14.18% below the 52-week high of 120.53 and 75.62% above the 52-week low of 58.90, which places it at 72% of the way up its 52-week range. The high was set 159 sessions ago and the low 272 sessions ago, so both extremes lie well in the past. Over the last 20 sessions price has moved between a swing high of 113.74 and a swing low of 100.27; widening the window to 60 sessions leaves the swing high unchanged at 113.74 while the swing low drops to 84.33. At 103.44 price sits in the lower portion of that 20-day band, nearer the swing low than the swing high.

Weekly picture

The weekly chart also reads as an uptrend, with price above the 20-week average (93.19) and the 20-week above the 50-week (88.77); price sits 11.0% and 16.52% above those two averages. Weekly RSI(14) is 56.6, and the latest week closed down 6.57% β€” the same magnitude as the latest daily session. The two timeframes agree on the broader uptrend but part on the near term: daily price trades below its 20-day average while the weekly holds above its 20-week.

Across the performance windows the near term is weaker than the long: UKOil is down 6.57% on the session and 5.64% on the week, yet up 2.33% over the month, 32.31% over the quarter and 59.64% over the past twelve months. This read draws on 341 daily and 59 weekly bars.

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