breaking news WTI crude oil futures settled at $73.39
The high price reached $78.00 today. The low reached $73.13. The price traded at the lowest level since January 23rd. The low of the year reached $72.46 on January 5. The December cycle low reached $70.08.
Looking more broadly at the weekly chart, the price of crude oil has been rising and falling since the week of November 21st. Since this week, the price has seen resistance near 50% of the upside from the November 2020 low near $82.07 (high reached $82.64) and support near 61.8 % of the same move to $70.84 (the low dropped to $70.08). The 100-week MA at $83.36 is also a key level that the price has been able to stay below since the break of the week of November 14, 2022.
Crude Oil remains in the wide range since the week of November 21
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