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WTI crude oil futures settle at $37.05

October 4, 2020 by admin 0 Comments

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Down -$1.67 or -4.31%

The price of WTI crude oil futures settle at $37.05. That’s down $-1.67 or -4.31%.

The low for the day reached $36.63. The high reached $38.65. The low price was just short of the September 9 low of $36.60. The pair also fell just short of the 38.2% retracement of the move up from the April low at $36.56

Last Friday the contract closed at $40.25. The $3.27 tumble is a decline of -7.9% for the week. A move below that level would have the pair trading to the lowest level since June 15 when the price bottomed at $35.56. On more weakness that would be the next target followed by the 50% midpoint of the range since April at $34.24.

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This article was originally published by Forexlive.com. Read the original article here.