The price of WTI crude oil had an up-and-down session with the price settling at $76.92, up eight cents or 0.10%. The high price reached $77.09. The low price was at $75.54.
Crude oil
Looking at the daily chart, the 200-day moving average is a $77.36 (green line on the chart above). That moving average was tested during Friday’s trade, but backed off. Going forward, if the price were to move above, the 100-day moving average is at $78.19 which is joined by the 38.2% retracement level (at $78.15). That will be a key level for both buyers and sellers.
Conversely, for sellers looking to pick a top, lean against the 200-day MA with a stop on a break above.