The price of WTI crude oil futures are settling at $102.73. That's up $4.20 or 4.26%.
The high price reached $104.48. The low price extended to $96.57 in a active trading day.
Looking at the hourly chart below, the pair yesterday reached a low of $95.10 before rally modestly into the close. Today the run to the upside, reached up to test its falling 100 hour moving average (blue line in the chart below at $104.21), And the 50% retracement of the move down from the June 29 swing high. That level comes in at $104.57.
Helping the rotation back to the downside was a bigger than expected build in crude oil inventories this week (see post here).
Crude oil futures tested its 100 hour moving average today
