WTI crude oil futures settle at $53.62

• 
  share

Down $0.45 or -0.83%

The price of WTI crude oil futures are settling down -$0.45 or -0.83% at $53.62. 
The high for the day reached $54.84. The low for the day reached $53.05.  

Looking at the daily chart below, the contract has now been below the 100 hour MA (blue line) for the last 5 straight days.  
Drilling to the hourly chart below, the contract fell toward a lower channel trendline and found support buyers against that level today. A move below with next test the $52.84 level which is the low for the month of September.

ForexLive