WTI crude oil futures settle at $44.91

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $1.85 or 4.30%

The price of crude oil futures for January delivery settle at $44.91. That is up $1.85 or 4.3% on the day.

The high price for the day reached $45.20.
The low extended to $42.82.

crude oil futures
Technically, the price extended above the high for August at $44.59 and moved away from the 50% retracement down to $42.57 (the low reached $42.82 today). 

The next upside target comes in at $46.43. That is home to the 61.8% retracement of the move down from the 2020 high to the 2020 low (in January and April respectively). 
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