WTI crude oil futures settle at $40.59

Technical Analysis

Down -$ 0.16 or -0.39%

The price of WTI crude oil futures are settling at $ 40.59. That is down -$ 0.16 or -0.39%. The high for the day reached $ 40.90. The low extended to $ .40.02.  The September contract settled at $ 40.75, down -$ 0.18 on the day. 

For the week, the contract settled at $ 40.55. With the settle price at $ 40.59, it closed up only $ 0.04 on the week. The high for the week reached $ 41.26. on Wednesday. The low was at $ 39.07 on Tuesday.  

Technically, the high for the week stalled right at the 50% of the years trading range for the August contract.  If the price is to go higher, getting and staying above that level will be eyed. 

Down -$ 0.16 or -0.39%Looking at the September contract, the high for the week reached $ 41.46. That stalled just short of its 50% retracement for 2020 at $ 41.71. 

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