Crude oil futures settled at $69.39

The price of WTI crude oil is settling at $69.39. That’s up $0.23 or 0.33% .

Technically, the price is closing above its 200-hour moving average at $69.23 (green line on the chart above). The last corrective low stayed above its rising 100-hour moving average at $68.25 (blueline on the chart above).

The low price on Monday stalled within a swing area between $66.31 and $66.91.

Buyers are trying to take back more control after declines in trading last week. Staying above the moving averages will keep the buyers in play.

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