Down -$1.60 or -3.87%
The price of crude oil futures are settling at $39.77. That is down -$1.60 or -3.87%.
The high for the day reached $41.87 and the low extended to $39.35.
A week ago the price for the October contract closed at $42.97.
Today’s close was the lowest since June 30. The price is also closing below the 200 and 50 day MAs at $42.84 and $41.60 respectively. The price remains above the 100 day MA at $37.55. The bias is still more bearish with the closes below the 200 and 50 day MAs (it is also below the 50% of the 2020 range at $41.79).
This article was originally published by Forexlive.com. Read the original article here.