WTI crude oil futures settle at $91.13

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WTI crude oil futures settle at $91.13

<p>The price of WTI crude oil futures are settling the day up $1.51 or 1.63% at $91.13. The market continues to digests the 2 million BPD cut last week by OPEC+. The high price reached $93.62. The low price has just extended to a new low for the day at $90.63 in after-hours trading. The high price today took out the high price from last week at $93.13.</p><p>Looking at the hourly chart the trailing 100 hour moving average is currently at $88.86 (and moving higher). It would take a move below that MA level to increase the bearish bias. </p><p> The price high today moved above a topside channel trendline, but could not sustain the momentum giving the sellers some added confidence.</p><p>Sellers are piling in after the settlement.</p>

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

Source: WTI crude oil futures settle at $91.13

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