WTI crude oil futures settle at $70.04

WTI crude all features are settling the day and the week at $70.04. The price is down -$0.83 or -1.17%. The low price reached $69.93. The high price reached $71.78.

For the trading week crude oil prices are down $1.28 or -1.79%. That is the 4th down week in a row. From the swing high during the week of April 10 to the settlement today, the price is down around -16.25% (the high price during the week of April 10 reached $83.53).

For the trading year, the price is down around -12.87% (the end-of-the-year level was at $80.26).

Looking at the hourly chart, the price high this week reached $73.89 on Wednesday. On Thursday, the price fell below both the 100 and 200-hour moving averages. In trading today, the corrective high ticked briefly above the 200-hour moving average but quickly reversed. The price low tested the 38.2% retracement of the move up from the exhaustive low from back on May 3. That level came in right around the $70 level.

Stay below the 200-hour moving average keeps sellers more control. Breaking below the 38.2% retracement would open the door for a run toward the 50% midpoint at $68.77.

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

Go to Forexlive

Wie hilfreich war dieser Beitrag?

Klicke auf die Sterne um zu bewerten!

Durchschnittliche Bewertung 0 / 5. Anzahl Bewertungen: 0

Bisher keine Bewertungen! Sei der Erste, der diesen Beitrag bewertet.

Es tut uns leid, dass der Beitrag für dich nicht hilfreich war!

Lasse uns diesen Beitrag verbessern!

Wie können wir diesen Beitrag verbessern?