| 
June 18, 2023A quick look at Friday: WTI crude closed Friday at $71.44 per barrel (with a daily low of $69.95) after ending Thursday at $70.62 and gaining 1.16%.
Crude Oil made an initial breakout above its 21 day Simple Moving Average at $71.18, a potential indicator of a newly emerging bullish phase. WTI crude oil is currently trading around the $71.48 Fibonacci resistance level. On the other hand, note that US crude oil could be slowing down soon as it approaches resistance at $72.38. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems WTI crude might continue pointing upwards in the short term.
Rallies can also be seen in other Energy, Heating Oil went up by 2.84% Friday, and closed at $2.55. Natural Gas went up by 3.4% Friday, and closed at $2.62. Notably, Brent Crude Oil rose 0.82% Friday and closed at $75.67.
WTI crude oil hit a significant low of $67.25 around 6 days ago, but has since recovered 5%.
