WTI crude oil futures settle at $66.38

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Crude oil futures settled at $66.38. That was down $0.14 or -0.21% on the day. The high price today was just short of the $67 level. The low price was at $65.45. At session lows, the price got within sniffing distance of its 100 day moving average at $65.08. There is other support at a swing area between $63.97 and $64.63.On the top side, looking at the daily chart, the 200-day moving average is at $68.26. It would take a move above that level to put the bias back in favor of the buyers. On Friday last week, the price closed above the 200-day moving average after teasing with moves above it all last week. On Monday a new high for July was reset $69.61, but could not sustain momentum and close back below the 200 day moving average. This article was written by Greg Michalowski at www.forexlive.com.