The price of WTI crude oil futures are settling at $71.58. That’s up $2.11 or 3.04%.
The high price for the week reached $72.46. The low price was at $69.54. At the highest level today, the price did extend briefly above the November low at $72.37, but momentum could not be sustained.
Going forward you would take a move above that level – and staying above that level – to increase the bullish bias.
Crude oil corrects to the November low