The price of crude oil futures settle that $47.09, down $1.64 or -3.37%
The price of crude oil futures is trading down sharply today has continued fears from a global slowdown and demand weighs on the price. The price for the futures contract settle at $47.09 earlier today. That was down $1.64 or -3.37%.
The current price is trading a little lower in after-hours trading at $46.95. That is down $1.78 or 3.67%.
For the day the low price extended to $45.88. The high price was up at $48.78.
Technically, the price continues to probe toward the end of December 2018 early January 2019 lows. The January 2019 low price came in at $44.37. The low price for 2018 was all the way down at $42.36. At $46.94 we are still off those levels, but another down day like today, and we could see those levels tested.
The run to the downside over the last few days has been able to extend below a number of swing levels going back to January 2019 between $50.38 and $50.99. That area will be eyed as resistance going forward.
