US crude futures settle at $82.51

<p>The price of WTI crude oil futures is settling at $82.51. That's down $0.68 or -0.82%.</p><p>The high price today reached $83.20. The low price extended to $81.76. The low price moved below the old swing area between $82.43 and $83.44. That area was breached last week but rotated into the swing area on Friday. Today's break below is more bearish and may be a signal that the sellers are gathering against the swing area. Traders looking for more downside will likely be using the $83.44 as a risk-defining level. Stay below is more bearish. </p><p>On the downside, if there is more selling, the $79.00 is a downside target level. </p>

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