WTI crude oil futures settle at $80.52

Crude oil closes up $1.17 or 1.47%

the price of WTI crude oil is settling at $80.52. That’s up $1.17 or +1.47%.

The high price for the day reached $82.18 before coming back to the downside. The low price extended to $79.55.

Crude oil closes up $1.17 or 1.47%_

Looking at the hourly chart, the price high extended above its Topside trendline, but could not sustain the upside momentum.

The 50 hour moving average currently comes in at $79.88. The 38.2% retracement of the move up from the low on October 7 comes in at $79.42. Of course getting below the $80 level would also be of interest.
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