WTI crude oil futures are settling at $41.70

Technical Analysis

Author: Greg Michalowski | wti-crude-oil-futures

Up $0.69 or 1.68%

The price of WTI crude oil futures are settling at $41.70. That's just below the 50% retracement of the 2020 trading range for the September contract at $41.71.

Up $0.69 or 1.68%_

The high for the day did extend above that midpoint level all the way up to $42.08 before backing off into the close. The low price for the day reached $40.14.

Since the bottom in April, the high corrective price has extended to $42.51. That was on July 21. There have been 3 closes above the 50% retracement level, with the highest close at $41.92

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