Closes up $0.73 or 3.23%
The price of WTI crude oil futures are settling at $23.36. That is up $0.73 or 3.23% on the day. The high price reached $23.73. The low price extended to $20.80.
Looking at the hourly chart, the consolidation over the last few days has allowed the 100 bar moving average (blue line in the chart above) to catch up with the price.
In trading on Friday the price was able to extend above that 100 moving average line but failed. Today the moving average has moved down to $24.60. A move above in the new trading day would be a tilt to the bullish side. Staying above could see a test of the falling 200 hour moving average at $28.15 (green line)
