Up $0.77 or 1.95%
The price of WTI crude oil futures are settling at $40.20. That is up $0.77 or 1.95%.
The high for the day reached $40.53. The low for the day extended to $39.35.
Looking at the daily chart above, the price tried to move above the 200 day moving average on Friday only to back off after a brief move above. Yesterday the price move back below its 100 day moving average at $40.36.
Today the price action has some activity above the 100 day moving average but the settle price has moved back below.
Going forward getting back above the 2 moving averages (blue and green lines) would be needed to solicit more buying. Until then, the sellers still remain more in control.
