100 day moving average at $66.17
The price of WTI crude oil futures have moved to a new session low of $66.24. In the process the price has moved closer to its 100 day moving average currently at $66.17.
The price has not traded below its 100 day moving average since November 2020. A break below that level would tilt the technical bias more to the downside.
So far buyers are leaning against the level although the bounces modest. The current price is trading around $66.40. Nevertheless, risk focus traders are leaning against the level and support is holding. A break below however could see more momentum selling.
