US crude oil settles at $86.47 | Forexlive

The price of WTI crude oil futures are settling at $86.47. That’s up $0.64 or 0.75%. The low for the day reached $84.74. The high extended to $87.31.

Looking at the daily chart above, the high price from earlier this week testing the high price from the month of October. That level and 2 October came in at $93.62. The high price from Monday reached $93.73 just above that level before rotating back to the downside.

The move to the upside snapped a 3 day losing streak which saw the price moved from $93.62 on Monday, to the low price today of $84.74. That represents a decline of -9.5%.

From the daily chart, there is support in between a swing area below and $81.21 up to $82.10. On the topside the falling 100 day moving average at $91.27 is now resistance followed by the swing area between $93.62 and the 38.2% retracement of the move down from the June high at $94.38.