WTI crude oil futures up over $1 or 1.3% at $79.76

<p>The price of WTI crude futures is up 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.</p><p>Yesterday, the price closed above its 200-day moving average for the 1st time in over a year. The 200-day moving average is at $77.11. The price is trading at its highest level since April 19.</p><p>Looking at the daily chart, the next major target area comes between $82.48 and $83.44. That area is home to swing highs going all the way back to November 18, 2022 (see red numbered circles). A closer target would be the natural resistance near the $80 level.</p><p>For a video look at the long term technical, click on the video below.</p>

This article was written by Greg Michalowski at www.forexlive.com.