Trades above the swing hi from January 2020
the price of WTI crude oil futures are continuing its moved to the upside. It currently trades up around $1 or 1.73% of $57.85. The high price reached $57.94.
The move to the upside in the March contract as an out breached the January 2020 high price for the year at $57.41. That is now close support.
Looking at the hourly chart, the contract had been moving sideways to higher today which allowed an upward sloping trendline to catch up to the price. However, the push to the upside over the last hour or so has moved further away from that trend line at $57.38 (and moving higher). Stay above is more bullish. Move below and there could be some further downside corrective probe.
For now however, the buyers are in control
