Crude oil stalled near early December ceiling this week
The price of WTI crude oil futures are settling down $1.17 or -1.51% at $76.11. The high price rate $77.74. The low price was at $75.37. The high price stalled near the high price from Wednesday's trade at $77.72. That high price was also near swing highs going back to December 5 and December 6. So for whatever reason, the $77.74 level is now a strong ceiling area for crude oil. Be aware
Looking at the hourly chart, the 100 and 200 are moving averages are converged near $74.56. It will take a move back below those moving to increase bearish bias.
