Up $0.42 on the day
The US WTI crude oil futures are settling the day at $51.87, up $0.42 or 0.82% on the day. The high reached $52.37. The low extended to $51.35.
Looking at the daily chart below, the price did move above the May 2017 swing high at $52.00 but fell short of the end of September high at $52.86. The price has also rotated lower and trades below both levels. That is not so great for the bulls but it is not the end of the world.
The good news for the bulls is that last week, the fell below the 200 day MA and the $50 level, but could not stay below. The price has closed above the $50 level 16 of the last 19 trading days.
