Crude oil futures settle at $59.77

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.44 or 0.74%

the price of WTI crude oil futures are settling at $59.77. That's up $0.44 or 0.74%.

The high price for the day reached $60.04. The low price extended to $58.12.

Looking at the hourly chart, the price is up testing  the 100/200 hour MAs between $59.79 and $60.06. A move above the upper extreme would tilt the bias back to the bullish side. The low today stalled near the March 18 low. Yesterday the price cracked below that level near $58.21 but held ahead of the swing lows from March 23 and March 25 between $57.24 and $57.42.

Overall for the day a lot of choppy up and down price action, below moving average resistance above.

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