Crude oil futures settle at $39.77

Technical Analysis

Down -$ 1.60 or -3.87%

The price of crude oil futures are settling at $ 39.77. That is down -$ 1.60 or -3.87%. 

The high for the day reached $ 41.87 and the low extended to $ 39.35. 

A week ago the price for the October contract closed at $ 42.97.  

Down -$ 1.60 or -3.87%

Today’s close was the lowest since June 30.  The price is also closing below the 200 and 50 day MAs at $ 42.84 and $ 41.60 respectively.  The price remains above the 100 day MA at $ 37.55.  The bias is still more bearish with the closes below the 200 and 50 day MAs (it is also below the 50% of the 2020 range at $ 41.79). 

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