WTI crude oil futures settle at $77.60.

<p>Crude oil futures are settling the day at $77.60. That's up $1.71 or 2.25%. On Friday, the price of crude all rebounded 4.04%. However, for the trading week, the price was still down -1.46%.</p><p>The high for the day reached $78.46. That took the price above its 200-day moving average at $78.14 (see green line in the chart above), but momentum could not be sustained and the price has rotated back below that key-moving average level. Going forward it would take a move above the 200-day moving average – and staying above – to give the buyers more confidence. Absent that and the seller's or more in control technically.</p>

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