AllTechnical Analysis
logoArgusJanuary 06, 2021

Technical Assessment: Bullish in the Intermediate-Term

Intermediate Term
Long Term

Crude oil (both WTI and Brent) continues to recover from a devastating bear market in February and March of 2020. WTI broke out of small sideways consolidation on Tuesday, rising over 5% and printing $50.20/barrel intraday, the highest since late February. Brent also rose 5%, breaking out of a small bull flag and hitting $53.90 on an intraday basis. That is the highest price for Brent since early March.

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