WTI crude oil futures settle up $1.12 or 1.97%
The price of WTI crude oil futures are settling at $57.97. That's up $1.12 or 1.97%. The high price extended to $58.14. The low price fell to $57 even. The price is now up for 6 consecutive days since bottoming on February 1 at $51.64 (12.2% gain over the 6 trading days).
Looking at the hourly chart, the pair remains within a channel. The current low channel trendline comes in at $57.54. The topside channel trendline is up at $59.39. Stay above the lower trendline keeps the bulls firmly in control. A move below could see the price cracked down toward the rising 100 hour moving average which is at $56.26.
