WTI crude oil continues to consolidate

Technical Analysis

Author: Greg Michalowski | crude-oil

Stays above the 100 day MA but can't stay above the 200 day MA

The price of WTI crude oil remains above the 100 day moving average at $55.98, but for the 4th day in a row moved above the higher 200 day moving average at $57.22, only to fail on the move above and move back down.

Stays above the 100 day MA but can't stay above the 200 day MA
The WTI futures contract today so that $57.15. That was up $0.80 or 1.42%. It is currently trading at $56.97 in after-hours trading. The high for the day reached $57.88. The low extended to $56.27 (above that 100 day MA at $55.98).  


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