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Crude oil moves to a new session high

The price of WTI crude oil futures have reversed course and then back above its 200 hour moving average at $72.62. A report saying Russia said its oil output cuts almost hit its pledged goal in April, turned sellers into buyers. The high price is reached $73.50. The next upside target comes in at the $73.59 level. That is near the 50% midpoint of the range since the April 12 high (see hourly chart above). Yesterday the high price moved briefly above that 50% retracement level - reaching a high o... Read More

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Content Topics

Crude

Moves

Session

High

Forex

Posted: May 9 2023, 17:49

Author Name: forexlive

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