The price of WTI crude oil futures rose for the 4th consecutive day and the 5th day in the last 6 trading days. The price is currently up $1 or 1.3% at $79.76.

Yesterday, the price closed above its 200-day moving average for the first time in over a year. The 200-day moving average is $77.11. The price is trading at its highest level since April 19.

Looking at the daily chart, another major target area is between $82.48 and $83.44. This area is home to swing highs that extend to November 18, 2022 (see red numbered circles). A closer target would be natural resistance near the $80 level