The price of WTI crude oil is settling at $63.30 up $0.61 or 0.97%. The low to high trading range was confined, with the low for the day reaching $62.52, while the high was at $63.67.
Technically, the price remains between close support and resistance on the daily chart.
- On the downside, there are swing lows between $60.45 and $61.94
- On the topside, the 61.8% retracement of the range since the April low comes in at $63.71. Above that, the 100 day moving average is at $64.31.
Those areas will be the close support and resistance and also breakout levels for traders this week.
This article was written by Greg Michalowski at investinglive.com.