Down -$1.18 or -2.88% on the day
The price of crude oil futures are settling at $39.35. That is down or
The high for the day reached $40.45. The low extended to $39.04.
Technically, looking at the hourly chart below, the price moved below the 100 and 200 hour MAs and the 38.2% of the move up from the October 2 low (at $39.62). The low for the day reached the 50% midpoint and found support buyers. The last 4 -5 hours has seen the price waffle between the 38.2% above at $39.62 and the 50% below at $39.05. Buyers and sellers are battling it out between the retracement levels.
