WTI crude oil futures settle at $52.91

Technical Analysis

Author: Greg Michalowski | wti

Down $0.30 or -0.56% on the day

The price of WTI crude oil futures are settling at $52.91. That is down $0.30 or -0.56% on the day. The high price reached $53.93. The low price extended to $52.58.

Down $0.30 or -0.56% on the day_
Looking at the hourly chart, the fall today has taken the price closer to its rising 100 hour moving average currently at $52.21.  A move below that MA would tilt the technical bias more to the downside. Stay above keeps the buyers more in control. 

The price moved above the 100 hour MA on January 5th last at $48.23. From the low for the year on January 4th, the index is up around 12.18%.

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