Settles at $60.83.
Yesterday, the price o him WTI crude oil futures settled down $3.80 or -6.17% at $57.76. Today there is a reversal higher. The May contract is settling at $61.18, up $3.42 or 5.92%.
The high for the day reached $61.34. The low extended to $57.29. The move back to the upside was able to test its 38.2% retracement of the move down from the cycle high at $67.79. That retracement level comes in at $61.28. The price also extended back above its 100 hour moving average currently at $60.25.
The current price is trading between those technical extremes. So there is a little battle that should go on between the 2 levels.
