Markets

WTI crude oil settles $45.50. Trades between MA levels.

Up 0$0.67 or 1.49%

The price of the October Crude oil futures is ending the day at $45.50 per barrel, up $0.67 or 1.49% on the day.

The low for the day extended to $44.55, while the reached $45.58.

Looking at the hourly chart of the October contract, the price of oil ping-ponged between the 200 hour MA at the $45.56 and the 100 hour MA below at $44.54. The contract is closing near the 200 hour MA.

Do you sell against the 200 hour MA? Well risk is defined and limited.

If long from below, you want to see the market to take the price above the resistance level and run a little.

Right now the price action today is saying "I am sure just yet" Look for the break and look for the run.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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