Clearly, a sell on rise approach has been visible so far, since the descent from September peak, during which there was hardly any period which witnessed higher highs. Such has been the bearish momentum during this period and all eyes are now on the 200-day SMA at 23372, which is about 3% from current levels.
Oil Price Today (August 12): Crude oil reclaims $90 again after fresh attacks on ships. What are experts saying?
Brent crude futures were up 72 cents, or 0.81%, at $89.63, while US West Texas Intermediate (WTI) crude gained 71 cents, or 0.85%, to $83.91.