Down $1.77 or 2.77%
The price of WTI crude oil is settling at $63.69. That is down $1.77 or -2.77%.
Looking at the daily chart, the price fell below the July and August lows near $65.11 yesterday and moved even lower today. It will now take a move back above that level to tilt the bias on the daily chart back to the upside.
The next swing low target comes in at $61.58. The low today reached $62.65.
Also in play on the downside is the rising 200 day moving average. That moving average currently comes in at $60.56. The price has not traded below the 200 day moving average since November 2020. The 38.2% retracement of the move up from the November 2020 low comes in just below that level at $60.42
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