TECHNICAL ANALYSIS

WTI Crude Oil Futures Settle At $ 52.91


Down $ 0.30 or -0.56% on the day

The price of the WTI crude oil futures contracts is $ 52.91. That’s a drop of $ 0.30 or -0.56% on the day. The high price hit $ 53.93. The low price spread to $ 52.58.

Down $ 0.30 or -0.56% on the day_

Looking at the hourly chart, today’s drop brought the price closer to its rising 100-hour moving average currently at $ 52.21. A move below this MA would tilt the technical bias further downward. Staying on top gives buyers more control.

The price rose above the 100-hour MA on Jan. 5 to $ 48.23. From the low of the year on January 4, the index is up about 12.18%.

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