From a technical perspective, oil prices have broken through the recent consolidation range. If it can hold above $99 in the next step, it will challenge the $104 level. However, the SAR indicator remains at elevated levels, suggesting potential short-term volatility.
On Friday evening, WTI crude oil rallied strongly, approaching the $100 per barrel mark!
Latest quote: $99.31/barrel, with intraday gains expanding to +3.74%, touching a high of $99.32 during the session.
Key levels:
Opening: 96.74
Previous close: 96.39
Lowest: 92.04
SAR indicator: 115.44 (mid-term resistance level)
From a technical perspective, oil prices have broken through the recent consolidation range. If it can hold above $99 in the next step, it will challenge the $104 level. However, the SAR indicator remains at elevated levels, suggesting potential short-term volatility.