November 29, 2022

Forex Solution

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WTI crude oil futures settle at $72.98

1 min read

Up up seven cents or 0.10%

The price of WTI crude oil futures are settling at $72.98. That’s up seven cents or 0.10%. The high price today reached $73.81. The low price extended to $71.98. The high to low trading range was $1.83 today.

Looking at the hourly chart,the price is settling between its 100 hour moving average above at $73.30 and it’s 200 hour moving average at $72.72. The current hourly bar dipped down to $72.70 just below the 200 hour moving average, but bounce back higher.

Going forward, a move below the 200 hour moving average would tilt the bias more to the downside from a technical perspective. Conversely holding the moving average of moving back above the 100 hour moving average (blue line) would be a more bullish tilt.

Crude oil on the hourly chart




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