WTI crude futures settle at $90.77. What are the technicals telling traders?

Technical Analysis

The price of WTI crude futures are settling at $90.77. That’s up $0.61 or 0.66%. The low for the day reach $89.22. The high extend up to $91.15.

For the week, the prices up around 4% on the week. This is the 3rd consecutive up week for crude oil.

Technically, the price is closing above its 100 week moving average at $85.91.

Looking at the hourly chart below, the price low today found early buyers against the 100 hour moving average (blue line in the chart below), and quickly reversed back toward the high for the day.

Articles You May Like

Yen Recovers Slightly on Japan’s Inflation and Verbal Intervention, But Dollar Remains Unstoppable
Learn with ETMarkets: Understanding base metals and how to trade it
Chinese stocks set for its first win in four years
Oil prices stable on Monday as data offsets surplus concerns
Oil prices rise in thin pre-holiday trade

Leave a Reply

Your email address will not be published. Required fields are marked *