Crude oil settles at $71.79

WTI crude oil futures are settling at $71.79. That’s up an even $2 on the day or 2.87%. The high price today reached $72.17. The low price was at $69.90. The high price from June 21 reached $72.72. That is the next upside target. Above that the high price from June 8 reached $73.28, and the falling 100-day moving average at $73.98 would be targeted (blue line in the chart below).

The price of crude oil has not closed above its 100-day moving average since April 28.

This article was written by Greg Michalowski at Source