The price of WTI crude oil futures is settling up $1.04 or 1.35% at $77.82. The high for the day reached $78.11. The low extended to $75.88.
Lower growth in Europe pressured the price early in the session. US production is also a negative for the price. However, momentum could not he sustained, the recover higher was restarted.
Technically, the move to the downside took the price below its 200-day moving average at $77.74, but has since been able to recover to the MA and settled just above that MA line at the close. Going forward, that MA will be a barometer for the buyers and sellers. Staying above is more bullish. Move below is more bearish.
This article was originally published by Forexlive.com. Read the original article here.
This “NEW CONCEPT” Trading Strategy Prints Money!… (INSANE Results!)