WTI crude oil futures are settling at $104.09. That's down $0.70 a -0.67%.
The high price reached $105.05. The low price extended to $100.89. Looking at the hourly chart, the price decline moved down toward - and through - its 100 hour moving average (blue line in the chart above) on the downside on a number of hourly bars, but the last 5 hours have seen the price remain above that lower moving average currently at $101.51. Going forward it would take a move back below the 100 hour moving average to increase the bearish bias (and stay below)
On the topside, the falling 200 hour moving averages at $105.30. Getting back above that moving average would be needed to increase the bullish bias. After that, the 38.2% retracement of the move down from the June 14 high comes in at $106.02. Getting above that level would also increase the bullish bias.
