WTI futures settle the day (and for the week) up $0.01 at $60.21

Technical Analysis

Author: Greg Michalowski | wti

Up 0.02%

The price of WTI crude oil future are settling the day (and week) by the smallest of margins. The price is up 1 cent or 0.02% at $60.21. 

The high for the day reached $60.74
The low extended to $59.93.

For the week, the pair is up $2.70 or 4.69% from the closing price of $57.51 last week. The gains were helped by a big drawdown of inventories on Wednesday of -9.499M barrels (expecting -3.0K).

Technically, the price moved above its 200 and 100 day MAs at $58.32 and $59.19 respectively. It will take a move back below those levels to hurt the bullish bias next week.

Up 0.02%

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