Still settles down $0.43 or -0.64%
The price of crude oil is settling down -$0.43 or -0.64% at $67.20. Although down, it was much lower earlier in the day. The low reached $65.71. The high extended to $67.95.
Looking at the daily chart below, the price fell below a lower trend line at $66.04 on the way to the lows, but rebounded back above the line. It remains below the 100 day MA at $68.31. That will be a key level going forward for the bias. Move above would be more bullish once again. Stay below keeps the sellers more in control.
