Friday's upbeat market sentiment sees WTI crude gain 1.79%

A quick look at Friday: WTI crude improves 1.79% to close at $75.7 per barrel Friday.

Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, WTI crude's lower Bollinger Band® is at $73.64, indicating that the market is oversold and fertile for new buyers.

With market volatility ebbing, the current technical outlook indicates WTI crude will remain range-bound for the immediate future.

This rally in WTI crude's price coincides with other Energy as Heating Oil increases 1.9% Friday and closed at $2.56. Natural Gas is trading around $2.17 after ending Friday's session at $2.1 (up 2.95% today).

Other Energy showed mixed performance as a flat day for Brent Crude Oil, closing at $79.77.