TECHNICAL ANALYSIS

WTI Crude Oil Futures Settle At $ 37.05


Down – $ 1.67 or -4.31%

The price of the WTI crude oil futures contracts is $ 37.05. That’s a decrease of – $ 1.67 or -4.31%.

Down - $ 1.67 or -4.31%

Today’s low hit $ 36.63. The peak reached $ 38.65. The low was just below the September 9 low of $ 36.60. The pair also fell just short of the 38.2% retracement of the rise from the April low of $ 36.56.

Last Friday, the contract closed at $ 40.25. The fall of $ 3.27 is a drop of -7.9% for the week. A move below that level would allow the pair to trade at the lowest level since June 15, when the price peaked at $ 35.56. On more weakness that would be the next target followed by the 50% midpoint of the range since April at $ 34.24.

For banking transaction ideas, check out eFX Plus

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Close
Back to top button
Close
Close