Down $0.06 or -0.15%
The price of WTI crude oil futures settle at $40.25. That is down $0.06 or -0.15%. The high price for the day reached $40.64. The low price extended to $39.71.
The close last Friday settle that $41.32. The settle today $40.25, has pushed the price down $1.07 on the week. That is down 2.58% on the week. The high price this week was on Monday at $41.49. The low price was also on Monday at $38.87. Those lows skimmed along its 100 day moving average (blue line currently at $39.39). On the topside, the pair stalled near the 50 day moving average currently at $41.47.
At some point there will be a catalyst to push the price either above the 50 day moving average (and then 200 day moving average at $41.95), or below its 100 day moving average (at $39.39). On a break, look for more momentum.
This article was originally published by Forexlive.com. Read the original article here.