CRUDE climbs to highest close since March 10th

Crude Oil (CRUDE) Technical Analysis Report for Aug 05, 2020 | by Techniquant Editorial Team


CRUDE rises to highest close since March 10th
CRUDE closes higher for the 4th day in a row
CRUDE pushes through Tuesday's high


Moving higher for the 4th day in a row, CRUDE ended Wednesday at 42.20 gaining $0.67 (1.61%) on high volume. Today's close at 42.20 marks the highest recorded closing price since March 10th. Closing above Tuesday's high at 42.08, the market confirmed its breakout through the previous session high after trading up to $1.44 above it intraday.

Daily Candlestick Chart (CRUDE as at Aug 05, 2020):

Daily technical analysis candlestick chart for Crude Oil (CRUDE) as at Aug 05, 2020

Wednesday's trading range has been $2.05 (4.93%), that's far above the last trading month's daily average range of $1.40. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for CRUDE.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With six out of the other seven Commodity Markets closing higher today, the ones that stand out on the positive side are SILVER gaining 3.14% and COFFEE closing 1.63% higher. On the flipside the worst performer has been SUGAR closing -1.79% lower. Read more

Market Conditions for CRUDE as at Aug 05, 2020

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