Up $ 0.93 or 2.37%
The price of the WTI crude oil futures contracts is $ 40.22. That’s up $ 0.93 or 2.37%. The high price hit $ 40.37. The low price extended to $ 38.68.
Technically, the price is moving back above its 100-day moving average currently at $ 39.68. The next bullish target would be at the 50-day moving average at $ 41.38. The 200-day moving average is just above that level at $ 41.72.
The price of crude oil closed for today below its 100-day moving average, but was unable to support the bearish momentum. Nonetheless, the 100-day moving average will remain a key barometer for the future of the market.