Crude oil settles up $1.07 to $73.30

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $1.07 or 1.4%

The price of WTI crude oil futures are settling at $73.30. That's up $1.07 or 1.41% on the day. The high price extended to $73.50. The low price reached $71.61. 

WTI crude oil technical analysis
Technically, the run higher today moved above the swing high from from August 2 at $73.14 and traded at the highest level since early August.

Looking at the daily chart, the price bottomed on Tuesday near the 50 day average and just above the 100 day moving average. Both those moving averages are currently at $69.43. It will take a move below to tilt the bias more to the downside.

On the topside, the high price from the month of July reached $76.98. That is the highest price going back to October 2018.  
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