WTI crude oil futures settle at $71.91

Technical Analysis

Author: Greg Michalowski | wti

Up $1.61 or 2.29%

The move higher in crude oil futures continued today with a sharp rise to the upside. The September contract settled at $71.91. That's up $1.61 or 2.29%.

The price is up sharply from Monday/Tueday's lows which saw the price reached $65.59. The price is now up $6.18 or 9.42% from that low. 

Up $1.61 or 2.29%_
Looking at the hourly chart, the futures contract broke above the 200 hour moving average and the 50% retracement of the move down from the July high near the $71.27 level. Stay above that level would the buyers in control going forward.
Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose