WTI crude oil futures settle at $62.14

Technical Analysis

Author: Greg Michalowski | crude-oil

WTI crude oil closes up $0.71 on the day or 1.16%

The price of WTI crude oil futures are settling at $62.14. That is up $0.71 or 1.16% on the day.

The high price today reached $62.43. The low price extended to $61.25.

WTI crude oil closes up $0.71 on the day or 1.16%_

Looking at the hourly chart, the price tried to move above its 100 and 200 hour moving averages earlier in the day, but failed. In the last hourly bar, the price once again retested those moving average lines near $62.20, but found sellers.  Next week a move above the moving averages would be more bullish. Stay below and sellers remain more control.  

Last Friday the price closed at $63.15. With the current price at $62.14, it translates into a decline of $1.01 or -1.59% on the week.
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