WTI crude futures settle at $69.86

<p>The price of WTI crude futures are settling at $69.86 up $0.30 or 0.43%. The high reached $70.60. The low extended to $68.93. </p><p>The move to session highs saw the price extend back above its 200-hour MA at $70.04 currently (green line in the chart above). However, momentum could not be sustained, and the price rotated back below the MA level.</p><p>The subsequent fall moved down to test the 100-hour MA (blue line at $69.02) and found support buyers.</p><p>With the price settling at $69.86, it is between the 100-hour MA below and the 200-hour MA above.</p><p>Traders will be looking for a break of either level with momentum. Until then, the battle is on between buyers and sellers. </p>

This article was written by Greg Michalowski at www.forexlive.com.