The price of WTI crude oil is settling at $79.63. That's up $0.89 or 1.13%. The high price reached $79.90 today. The low price was at $78.29.
Recall from yesterday, the price extended above its 200 day moving average for the 1st time since August 2022. That 200 day moving average is currently at $77.11. It would take a move back below that level to tilt the bias back to the downside.
On the top side, the $80.00 natural resistance is the next target. Following that, traders will look toward a swing area between $82.48 and $83.44 .
Click on the video below to see the technicals that are driving the price action for the Crude oil contract.
