WTI crude oil futures settles at $54.70

Technical Analysis

Author: Greg Michalowski | wti-crude-oil-futures

Up $1.15 or 2.15%

The price of WTI crude oil futures are settling the day at $54.70. That is up $1.15 or 2.15%

The high today extended to $54.84. The low fell to $53.64.

The low for the week reached $51.38. The high was today's high at $54.87. The contract close that $52.81 on Friday.   That is a $2.06 rise or 3.90% for the week.

The price of crude oil is trading between the 100 and 200 day MA above and swnig lows below.  
Looking at the daily chart above, the price low was above the 5 month lows at $50.60 area, but remains below the 100 day MA above at $55.90. The 200 day moving averages at $56.74.

So the buyers and sellers are battling it out between the support at the floor and the resistance against the topside moving averages.  
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