Crude oil settles at $75.44. Tests 200 day MA at session lows

The price of crude oil has settled at $75.44. That is down -$0.39 or -0.51% on the day. The price is now down -6.60% from the high on January 15 at $80.73. The low price today reached $75.31. The high was at $76.42.

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 be more in control technically.

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