WTI crude oil futures settle at $56.30

Author: Greg Michalowski | Category: News

Up $0.04 or 0.07% on the day.

Crude oil is settling at the $56.30, up $0.04 on the day or 0.07%. The high price reached $57.76, while the low extended to $55.75.  It was a volatile up and down trading day.

Up $0.04 or 0.07% on the day.

Looking at the hourly chart below, the price at today's high extended above its August 13 high at $57.47, but could not sustain momentum above that level.  

The price fall over the last 2 hours has taken the price back below the August 21 low at $57.13 and the August 29 low at $56.89.  

We still remain within the boundaries of the range going back to August 9, with the high around the $57.50 area and the low near the $53 level.  Between the 2 extremes 6 the 100 and 200 hour moving averages, which are converged at $55.19.  Stay above is more bullish. Move  below is more bearish.  

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