WTI crude oil futures settle at $68.56, then bounces

The price of WTI Oil futures tumbled lower to $63.64 before rebounding back higher to close today little changed. The settlement price is coming in at $68.56. That's down just $0.04 or -0.06%. The high price reached $69.84.

Looking at the daily chart, the price moved below the March 20 low of $64.36 on its way to session lows, but could not reach the next target at the December 2, 2021 low at $62.43. There is strong support between $62.43 and $64.36. Earlier in March, the price stalled near the area. Today is the 2nd test against that key support target.

Chris

Head Trader & Coach