Crude oil back below 100/200 hour MA.
The price of WTI crude oil futures is settling at $71.55. That’s down $0.31 or -0.43%. The high price today reached $72.58. Looking at the hourly chart the high price today stalled within a swing area between $73.50 and $73.89. The last 6 trading hours saw the price move down 4 of the 6 hourly bars. That took the price back below the near converged 100 and 200-hour moving averages +/- $71.75. Stay below the moving averages and an upward-sloping trend line cuts across near $70.84 currently.
For the trading week, the price is up $3.54 or 2.2% (closed near $70 last week)
This article was originally published by Forexlive.com. Read the original article here.