The price of WTI crude oil futures are settling at $81.60. That’s down to cents or -0.02% on the day.
The high price reached $80.64. The low price extended to $81.05. At the high, the price was up $1.00. At the low the price fell -$0.59. Gains were erased by the close.
Looking at the hourly chart, the high price from last Wednesday reached a high of $82.66. That was just $0.02 higher than the high price reached today.
On the downside, the next major target comes in at the $80.85 sent level. That is home to the rising 100 hour moving average (blue line in the chart above). Move below that level and stay below that level would increase the bearish bias in the short term, with the 200 hour moving average at $79.55 the next major target needed to get to and through if the sellers are to assume more control technically.