WTI crude oil futures settle at $105.17

The price of WTI  crude oil  futures retraced the earlier losses and is settling at $105.17. That’s up $0.48 or 0.46%.

The low price was down at $100.28. While the high price extended to $105.71.

In the Asian/European session, the price moved sharply lower, falling below its 100 and 200 hour moving averages in the process (blue and green lines currently at $103.11 and $102.19). The low price approached swing lows from Thursday’s trade, and a swing area between $99.88 and $100.16. Buyers leaned against the swing area and pushed price back to the upside.

After breaking back above the 200 and 100 hour moving averages, increased buying momentum has push the price up to a another swing area between $105.23 or $105.68. Sellers are trying to hold the price against that area.