WTI crude oil futures settle at $35.44

Technical Analysis

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

Down -$0.05 or 0.14% on the day

The WTI crude oil futures are settling at $35.44 or down -$0.05 or -0.14%.

The high for the day reached $35.90. The low extended to $34.27.

Technically, looking at the daily chart above, the price traded to the highest level since March 11 today.  It took out the high from Friday at $35.77 but could not sustain the momentum.  However, the bullish slant is that the price remains above the 38.2% of the move down fro the January high at $34.72.  If the price can stay above that level, the buyers have some control.   

On the topside, the falling 100 day MA is at $38.24 (and moving lower).  If the price is to extend higher, getting and staying above that level would be needed.The price of crude oil last traded above that level back on January 23rd.

crude oil futures

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose