WTI Crude Oil Stalls at $81.40 After Rally From $67

WTI crude oil climbed from a $67.40 low in mid-March to $81.31 before hitting resistance. The front-month contract settled Thursday just below $81, then slipped to $79.60 in early Friday trade.

The $81.40 area has capped several intraday pushes since late February. On the 4-hour chart, the price is testing the 200-period moving average near that zone, a level traders watch for trend shifts.

Support sits at $76.50, the 100-period moving average on the same timeframe. A drop below that would put $74.50 in play, the 50% Fibonacci retracement of the March rally. Further down, a trend line at $72.80 and the 100-period average form a thicker band.

A daily close under $70 would target the $65 area, according to chart patterns. On the upside, a break above $81.50 opens the path to $84 and then $85.

In gold, the metal traded near $4,110, still below the $4,120 level that would confirm a recovery, traders said.