Crude oil futures are settling at $78.26. That is down -1.0% or -1.26%

The price is settling near the lows for the day. The low for the day reached $78.23. We left for the day was at $79.93.

For the trading week, the price was up $0.40 or 0.52%.

Looking at the daily chart, the price action today traded closely between the 200-day moving average above at $80.03 (the high was $79.93) and the 100-day moving average below. $78.33 (the low for the day was just below that level at $78.23).

This article was written by Greg Michalowski at www.forexlive.com.