The price of WTI crude oil futures are settling at $71.12. That's up $2.51 or 3.66%. The high price reached $71.50. The low price reached $68.56.
Looking at the daily chart, the price move back above its 200 day moving average at $70.51 the price traded above and below that moving average over the last 12 trading days. Looking at the daily chart, yesterday the price moved down to retest the 38.2% retracement at $66.12.
Should the price stay above the 200 day moving average, the 100 day moving average at $74.01 becomes the key upside target. The price has not traded above that moving average since November 26 – nearly one month ago.
Crude oil futures are back above the 200 day moving average
