WTI crude oil settles at $63.10, down -$0.04 or -0.06%


  • share

Call it unchanged 

The Iranian sanctions went into effect on November 4th. Despite the sanctions the price of crude oil moved to a new low going back to April 9th (low at $62.52), before rebounding. 
The high for the day extended to $64.14, but lost momentum and fell into the futures close. We are currently trading lower and back below the $63.00 level at $62.90.  

Technically, the price remains below the 100 hour MA at $64.53. If the price decline is to show a more bullish bias, that MA will need to be broken and remain broken. 

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