The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day.
The high price reached $85.56. The low reached $82.78.
The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a new seven year high. The high price from 2021 reached $85.41. The settle price today is extending back below that level .
Looking at the hourly chart below, the low price on the correction lower yesterday reached the 200 hour moving average and found support buyers. The last time the price traded materially below the 200 day moving average was back on December 21.
This article was originally published by Forexlive.com. Read the original article here.