WTI crude oil futures settle at $40.29

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.19 or 0.47%

The price of WTI crude oil futures are settling at $40.29. That's up $0.19 or 0.47%.
The high price for the day reached $40.57. The low price extended to $39.07. 

For the September contract, the price settled at $40.55. That was up $0.23 on the day.

Up $0.19 or 0.47%
Looking at the hourly chart, the price has traded between $39 and $41 over the last 11 trading days (give or take).  The price trades above and below the 100 and 200 hour MA today (blue and green lines at $40.05 and $40.21 respectively).  Traders are still working for the next shove. Will it be to the upside and toward the $50 or to the downside with a move back toward the $35 and $30 again?
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