Closed where it closed yesterday.

Crude oil futures has a "kiss your sister" kind of day. It ends the day unchanged on the day - not a penny higher and not a penny lower at $49.89/BBL. Plugging the change in my calculator shows a 0.0% percentage change ; ).

Last Friday, the contract closed at $47.48. So for the week, the price enjoyed a nice rally of $2.41 or 5.07%.

Technically in the process, the price did move above the 200 day MA (green line in the chart above) at $49.57. It also moved above a topside trend line and even peaked above the high from August (see chart above), but there was some selling. Yes the contract is closing above the 200 day MA (that will be key risk level for next week), but it is also below the August high and the trend line.

Next week, watch the 200 day MA below and the August high at $50.43.