Test the underside of a broken trendline

The price of WTI crude oil futures are up 4.18% and are trading above $70 (at $70.01).

Looking at the daily chart, the low price yesterday reached around $65.11.

That low – and the low from Monday's trading – broke below the 100 day moving average at $66.34 currently.  However traders could not close below the moving average level. The last time the price closed below the 100 day moving averages back in November 2020.

Source link