Support & Resistance

Crude oil now up $3.00 session high of $85.91

The price of WTI crude oil futures has moved to a new high of $86.09. Currently the prices trading at $85.93. That’s up $3.11 from the $82.82 settlement price yesterday or 3.75%.

The move to the upside has the price testing its 100 hour moving average at $85.93. The price has found resistance sellers against the 100 hour moving average going back to to October 11th through October 17. Will the sellers come in near the level again?

This article was written by Greg Michalowski at forexlive.com.


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