WTI crude oil futures settle at $75.66 | Forexlive

The WTI crude oil futures to settle at $75.66. Down $-1.12 or -1.46%. The high price reached $76.69. The low price was down to $74.53.

Looking at the daily chart, the price last week moved back below the 100 day moving average (blue line in the chart above) at $76.68. On Friday the price tested that moving average line and found sellers. Today, the high was retested again and for the 2nd consecutive day, the MA stalled the rally (the price moved above the moving average by $0.01 before reversing back lower).

Going forward a move back above the 100 day moving average will be needed to increase the bullish bias with $76.68 the next target, followed by the 200 day moving average at $82.19. On April 12 and April 13, the price moved up to the 200 day moving average and found willing sellers.

On the downside, the recent lows at $73.80 would be the next downside target