WTI crude oil futures settle down $1.65 or -4.25%
WTI crude oil futures are settling at $37.14. That is down $-1.65 or -4.25%.
- The high price today reached $38.61
- the low price extended to $37.06
Technically, the price has been moved back toward the swing low and retracement area between $36.93 and $37.11. Next week that area will be a key swing area for both the buyers and sellers. Move below would be more bearish. Move above is more bullish.
The high price this week reached $39.35. That is a short of its 200 day moving average at $39.70. If the price was back above the 200 day moving average and then 100 day moving average at $40.84, it would shift the bias solidly to the upside from a technical perspective.
The price last week closed at $35.79. The gain this week was $1.35 or 3.77%.
This article was originally published by Forexlive.com. Read the original article here.