Technical Analysis

Crude oil settles at $86.92

The price of WTI crude oil is settling at $86.92 is up $1.05 on the day. The high price reached $88.64. The low price was at $84.07.

The price moved sharply higher on the news of a Russian missile killing 2 people in Poland. That sent the price up to test its 200 hour moving average at $88.64. Sellers leaned against the level of the test and backed off. The price fell further on reports it was accidental, or was part of a rocket that Ukraine forces had hit. Russia denied firing missiles nearly Ukrainian Border.

The resident letters has moved down to a 600 $0.57. That has taken it below its 100 hour moving average at $86.89.

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