WTI crude oil settles at $86.38

<p>The price of WTI crude oil is settling at $86.38 up $3.59 on the day.. </p><ul><li>The high price today reached $87.20</li><li>The low price extended to $84.74</li></ul><p>At session lows, the price tested the swing high going back to August at $84.85. Although the price dipped briefly below that level, momentum to the downside could not be sustained and the price bounced higher. That level will be a close support level going forward. Below that a swing area between $82.35 and $83.32 would be eyed.</p><p>On the top side watch the $88.42 area (see chart below).</p>

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