Crude oil
The price of the WTI crude oil futures are settling at $78.26. That is down $0.28 or -0.36%.
The high price today reached $79.24. The low price extended to $77.99. At the high, the price tested the January 26 high at $79.29. Yesterday the price extended above that high and moved up to $79.58. However, momentum faded and the price quickly rotated back to the downside.
The two low prices today remained comfortably above the 100 and 200-hour moving averages at $77.76, and $77.81 respectively (see below in green lines on the chart above). The price would need to move below those levels and stay below those levels to tilt the bias back to the downside.
