The price of WTI crude oil futures are settling at $90.27. That's up $2.01 or 2.28%. The high price reached $90.37 while the low price was way down at $86.75. Increase tension in Russia and Ukraine push the price above the $90 level for the first time since October 7, 2014.
Looking at the hourly chart, the move to the downside found support against its 200 hour moving average (see green line in the chart above). After moving back above the 100 hour moving average with momentum (blue line, the price started to work toward the topside trendline connecting recent highs going back to January 19. The price has since moved above that trend line near $89.87. Trades might use that level is close risk. The high from yesterday at $89.72 is another close risk level for longs/buyers
with the price now above the $90 level, it's not far from the magical $100 level. Yet to go back to July 30, 2014 for the last time the price traded above $100.
