TECHNICAL ANALYSIS

WTI crude oil futures contracts at $ 33.25


Decreasing – $ 067 or 1.98%

The price of the WTI crude oil futures contracts was $ 33.25 or – $ 0.67 or -1.98% on the day.

The lowest of the day reached $ 30.72. The top extended to $ 34.00. Growing demand begins to put an offer below the price. However, for the day, the price fell as worries about China’s growth and perhaps profit taking hurt the price.

Nevertheless, the price is well from the lowest and is approaching the highest of the day.

Decreasing - $ 067 or 1.98%

Technically, the price fell below 100 hours earlier in the session and fell to the lowest level since May 18 (Monday). However, the momentum could not be maintained and the price returns to more than 100 hours MA at $ 32.68.

As of Friday, the price closed at $ 29.78. The price being $ 33.25, this represents a gain of $ 3.47 or a gain of 11.6% compared to the last closing level on Friday.

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