WTI crude futures settle at $75.12

WTI crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term are settling at $75.12. That's up $0.49 or 0.66% on the day.

The high for the day reached $75.88. The low extended down to $73.89.

Looking at the 4 hour chart, the highs over the last two bars stalled near the 38.2% retracement of the move down from the January 3 high near $76.86. Stay below that level keeps the sellers more in play. Move above and trade will be eyeing the:

• Near converged 100 and 200 bar moving averages near $76.84,
• The 50% midpoint of the range for 2023 at $76.93, and
• A swing area between $76.76 and $76.93.

A move above that cluster of levels would open the door for further upside momentum.

For now however, stay below 38.2% retracement keeps the sellers in play despite the modest rise in prices today.