Down $1.44 or -2.79%
The price of WTI crude oil futures are settling the day at $50.11. That is down $1.44 or 2.79% on the day. The low for the day reached $49.91. The high reached $51.97. The low price today was the lowest since January 9, 2019. Today, the low from June at $50.60 and August at $50.52 were each taken out. The swing low from January 14, 2019 at $50.38 was also broken.
Needless to say the $50 a barrel level is a pretty significant level. Traders looking to buy a dip will need to see the price to stay above that level. We currently trade at $50.09. Should there be more momentum lower, the 2018 low from December $42.36.
