WTI crude futures are selling at $71.86. That's down $0.97 or -1.33%. The high-priced rate reached $72.97. The low price was $71.52.
Looking at the chart, the price settled just below the 200-hour moving average at $71.88. The 100-hour moving average at $71.23. Going forward if the price was to move below the 100-hour moving average, the bias would shift more to the downside. Conversely, move back above the 200-hour moving average, and the bias in the short term would have traders looking toward the $73.50 – $73.89 swing area (the red numbered circles).
WTI crude oil falls back to the 100/200 hour MA
