{"id":433923,"date":"2026-07-17T02:22:32","date_gmt":"2026-07-16T19:22:32","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-futures-continue-the-consolidation-since-breaking-higher-on-tuesday-trade-433923\/"},"modified":"2026-07-17T02:22:32","modified_gmt":"2026-07-16T19:22:32","slug":"crude-oil-futures-continue-the-consolidation-since-breaking-higher-on-tuesday-trade","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-futures-continue-the-consolidation-since-breaking-higher-on-tuesday-trade-433923\/","title":{"rendered":"Crude oil futures continue the consolidation since breaking higher on Tuesday trade"},"content":{"rendered":"<div>\n<p class=\"PDq2pG_selectionAnchorContainer\">The price of crude oil settled at $78.95, down $0.65 (-0.82%). Trading was relatively contained, with a low of $78.58 and a high of $80.87, as the market continued to consolidate after Tuesday&#8217;s breakout to the topside.<\/p>\n<p class=\"PDq2pG_selectionAnchorContainer\">\n<p>That breakout was technically significant, with the price pushing above both the 38.2% retracement of the decline from the June 3 high at $78.48 and a downward-sloping trend line near the same level. Since then, crude has rotated higher and lower three separate times, forming a tightening range. Each rally has produced a slightly lower high, while each pullback has found support at progressively higher levels near the 38.2% retracement.<\/p>\n<p>Today&#8217;s low held about 10 cents above the $78.48 retracement, reinforcing that level as a key technical support and keeping buyers in control for now.<\/p>\n<p>As long as the price remains above $78.48, the technical bias favors another push toward this week&#8217;s highs, with the 50% retracement at $82.01 serving as the next major upside target. On the downside, a move back below $78.48, followed by a break beneath the rising 100-hour moving average at $77.84, would shift the advantage back to the sellers.<\/p>\n<p>For now, the buyers have gained some momentum, but they still need to prove they can build on Tuesday&#8217;s breakout. The sellers, meanwhile, must reclaim support-turned-resistance to regain control. The technical battle continues.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of crude oil settled at $78.95, down $0.65 (-0.82%). Trading was relatively contained, with a low of $78.58 and a high of $80.87, as the market continued to consolidate after&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-433923","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/433923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=433923"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/433923\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=433923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=433923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=433923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}