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Home ANALYSIS

WTI crude oil futures settle at $63.69

A.R Chowdhury by A.R Chowdhury
August 19, 2021
Reading Time: 1 min read
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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%.

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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A.R Chowdhury

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