Down $1.05 or -1.94%
The price of crude oil futures are settling the day at $53.14. That's down $1.05 or -1.94%
The high for the day reached $53.71.
The low extended to $52.13.
The low today trade to the lowest level since October 10. From the high price on January 8 at $65.65, to the low price reached today at $52.13 took the price down 20.59% from the peak. At the low today price that closer to a swing floor area defined by lows going back to February 2018. That area comes between around $50.50 to $51.38. On further erosion to the downside going forward, I would expect that area to find risk defining traders leaning with stops on a break below.
