Up $0.42 or 0.90%
The price of WTI crude oil futures are settling the day at $46.99. That is up $0.42 or 0.90%
The high price for the day reached $47.44. The low price extended to $45.69.
Looking at the hourly chart, the price tumbled lower earlier today and in the process broke below its 100 and 200 hour moving averages (blue and green lines in the chart above). The 200 hour moving average was at $45.89. The low price reached $45.69 but quickly rebounded back above the moving average line. The rally into the settlement took the price running back above the 100 hour moving average.
Going forward it would take a move back below both moving averages to tilt the bias more to the downside once again.
