WTI crude adds 1.27% within $77.11 – $74.77 daily range

A quick look at Friday: after dipping down to $74.77, US crude oil regained earlier losses and reached $76.68 per barrel.

Crude Oil made an initial breakout above its 3 day Simple Moving Average at $76.61, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that WTI crude is oscillating around the key Fibonacci resistance level of $76.53. WTI crude oil's lower Bollinger Band® is at $74.04, indicating that the market is oversold and fertile for new buyers. On the other hand, note that US crude oil could be slowing down soon as it approaches resistance at $77.5. Of course, crossing it might suggest further gains are ahead.

Examining the technical analysis landscape, US crude oil might continue its downtrend in the short term.

A look at other Energy also shows upside as Heating Oil went up by 4.22% Friday, and closed at $2.78. Notably, Brent Crude Oil rose 1.4% Friday and closed at $81.59.

While US crude oil is appreciating, other Energy are comparatively not doing so well — after ending Friday's session at $2.54, Natural Gas lost 10.7 cents and is trading around $2.44.

US crude oil has fallen back around 37.98% from the significant high of $122.09 set 9 months ago.