The price of WTI crude futures are settling at $69.86 up $0.30 or 0.43%. The high reached $70.60. The low extended to $68.93.
The move to session highs saw the price extend back above its 200-hour MA at $70.04 currently (green line in the chart above). However, momentum could not be sustained, and the price rotated back below the MA level.
The subsequent fall moved down to test the 100-hour MA (blue line at $69.02) and found support buyers.
With the price settling at $69.86, it is between the 100-hour MA below and the 200-hour MA above.
Traders will be looking for a break of either level with momentum. Until then, the battle is on between buyers and sellers.
