Fourth straight week of the declines
the price of WTI crude oil futures are settling at $76.10. That is down $2.91 or 3.68%. The high for the day reached $79.30. The low extended to $75.079.
The low for the day stalled just ahead of the October 7 low at $74.95. That level ss the next target on further downside momentum to get to and through. A move below that level would next target the 50% retracement of the move up from the August 22 low. That midpoint level comes in at $73.55.
From the high reached on October 25, the price declined to the low today extended -12.07%. From the high reached on Tuesday this week, the price decline as seen a -8.2% decline. The high price this week reached $81.78 (on November 16).
Now if the price at the pump would start to come back down.