Crude oil price has settled at $75.44. That's down -$0.39 or -0.51% on the day. The price is now down -6.60% compared to the January 15 high of $80.73. today stands at 75.31 $. The highest level was 76.42 US dollars.
Looking at the daily chart below, the price is approaching the 200 day MA at $75.07. If the price can move below and stay below that MA, the sellers would technically have more control.
This article was written by Greg Michalowski at www.forexlive.com.
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