Up $3.50 or 5.63% %
The price of WTI crude oil futures are settling at. That is up $3.64 or 6.02%. The high for the day reached $65.97. The low extended to $61.76.
The gain today snapped the seven day losing streak. That move saw the price move down from a high of $69.60 on August 12, to a low on Friday of $61.72. That was a decline of about -11.22%.
Looking at the hourly chart, the price rise today has push the price back toward the 50% midpoint at $65.66. The price has been trading above and below that midpoint level over the last five trading hours (at $65.66). The contract also trades toward the middle of the 100/200 hour moving averages. The 100 hour moving average is down below at $64.58 while the 200 hour moving average is up about at $66.40. Movements outside of those moving averages will increase the bullish or bearish bias going forward.
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