Head's up.
Bakers Hughes rig count will be released a day early at the top of the hour. Crude oil is trading down around -$0.89 or -1.20% at $73.33. The high today reached $74.58. The low reached $72.44.
This week oil prices are up 2.12% after bottoming last week at $67.71. The low this week has reached $70.99. Looking at the weekly chart, the 200-week MA was broken the prior two weeks but could not close below that key MA level. The 200-week MA comes in at $70.51 this week. The low this week has remained above that MA level giving the dip buyers some hope. It would take a move below to increase the bears control.
