January 3, 2017: Down $1.39 or 2.59%
The the WTI crude oil futures are settling the day at $52.33 per barrel. That is down $1.39 or 2.59%.
- The high extended to the $55.24
- The low reached $52.11
Technically , the price fell below trend line and the 200 hour MA at the $53.34. That is now resistance/risk for intermediate traders. Back in mid-December the price bottomed near the $50.00 level. That level will ultimately need be breached to extend lower and put the sellers more in control.
In a Reuters poll, respondents see crude oil averaging $55.71 in 2017. This is up slightly from the previous poll of $55.23.