WTI crude futures settles at $79.63

<p>The price of WTI crude oil is settling at $79.63. That's up $0.89 or 1.13%. The high price reached $79.90 today. The low price was at $78.29.</p><p>Recall from yesterday, the price extended above its 200 day moving average for the 1st time since August 2022. That 200 day moving average is currently at $77.11. It would take a move back below that level to tilt the bias back to the downside. </p><p>On the top side, the $80.00 natural resistance is the next target. Following that, traders will look toward a swing area between $82.48 and $83.44 . </p><p>Click on the video below to see the technicals that are driving the price action for the Crude oil contract. </p>

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