Crude oil extends to its highest level since July 19. Price is testing a key swing area

The price of WTI crude oil is up $3.05 at $80.55. The high price today reached $80.73. The low was at $77.26 settle price was at $80.04.

Buying has continued after the settlement.

Looking at the 4-hour chart, the price highs has entered into a swing area between $80.17 and $80.57. The price is testing the high of that swing area. Move above – and stay above – and it opens the door for further gains.

This article was written by Greg Michalowski at www.forexlive.com.