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Crude oil settles at $77.82 ...Middle East
The price of WTI crude oil futures is settling up $1.04 or 1.35% at $77.82. The high for the day reached $78.11. The low extended to $75.88.Lower growth in Europe pressured the price early in the session. US production is also a negative for the price. However, momentum could not he sustained, the recover higher was restarted. Technically, the move to the downside took the price below its 200-day moving average at $77.74, but has since been able to recover to the MA and settled just above that MA line at the close. Going forward, that MA will be a barometer for the buyers and sellers. Staying above is more bullish. Move below is more bearish. This article was written by
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