The price of WTI crude oil futures are settling at $73.16. That's up $1.82 or 2.55%. The high price for the day reached $73.69. The low price was at $71.04.
Looking at the hourly chart, the price has retraced 50% of the move down from the April 12 high to the low reached last week on May 4. The midpoint level comes in at $73.59. A high price today reached just above that level at $73.69. The price is also toying with the 200 hour moving average currently at $73.01. The price settled above that moving average level tilting the bias more to the upside, but getting above the 50% is also important for the short-term bias going forward.
The price is up 15.35% from the exhaustive low price reached on Thursday which is all the low price reach $63.64.
