Яндекс.Метрика WTI crude oil futures settle at $55.68 – Technologies of the future for life!
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WTI crude oil futures settle at $55.68


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Down -$0.45 or -0.80%

The price of WTI crude oil futures are settling at $55.68. That is down $0.45 or -0.80%.  The high reached $57.13. The low extended to $55.58. The price is trading near the lows at the close. 
Crude oil inventories today showed a bigger than expected draw of -2.732M vas -1.5M estimate, but was less a draw than the API data released yesterday (-3.4M).
Looking at the hourly chart below, the cotntract is testing its 100 hour moving average at $55.56.   Below that is a lower trend line and the 200 hour moving average at $55.21.  It will take a move below each to turn the bias more negative.  

At the high price today, the pair tested a top side trendline and stalled (see red circles).

 ForexLive

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