The WTI crude futures price stands at $79.56. That’s up $2.07 or 2.671%
Freezing temperatures in most of the United States are contributing to the upward movement. Today’s high price broke above the $80 level to reach $80.30. The low price was down to 78.01.
Looking at the hourly chart, the price has moved back above the 38.2% retracement of the decline from the November 7 high. This level comes in at $79.16.
The rising 100 hourly moving average is down to $77.4, and the rising 200 is a moving average at $76.52. Earlier this week, price tested that 200 hourly moving average and found successive buyers against the level. This gave buyers the green light to push the price higher from a technical standpoint.