WTI crude oil futures settle at $80.64

Technical Analysis

Author: Greg Michalowski | wti-crude-oil

WTI crude oil settles up $0.12 or +0.15%

The price of WTI crude oil futures had an up and down day today after settling above $80 for the first time since 2014.

The price is a settling at $80.64. That's up $0.12 or +0.15%.  The high price reached $81.62. There was the highest level since October 2014.

The low price extended to $79.47. At $80.64 it's near the middle of the trading range for the day. 

Of interest is at the December 2021 contract is trading eight dollars above the December 2022 contract which is the widest since 2014. That is indicative of a market that is having supply issues in the front month.

Looking at the daily chart below, the swing high going back to October 2018 and the swing high from July 2021 both came in near $76.88. It would take a move below that area to hurt the bullish bias.

Crude oil


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