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Down $0.70 or 0.88%
The price of crude oil futures are settling at $70.88. That is down -$0.70 or -0.88% on the day. Pres. Trump today told OPEC to get “prices down now!”
Well, the comment worked (at least a little).
The high price today reached $71.81. The low was near the close level at $70.73.
Technically, the high today traded to the highest level since July 11, but rotated back down. The price also closed below the swing recent swing highs between $71.10 and $71.66. Staying below that area could see more downside potential – and Trump would get his wish.
The 100 day MA at $68.96 would be a target to aspire towards.
This article was originally published by Forexlive.com. Read the original article here.