Up $.50 or 0.79%
The price of crude oil futures are settling at $63.51. That is up $.50 or 0.79%.
The high price extended to $63.77. The low price reached $62.86.
Technically, the price has moved lower since peaking last week at $66.55. The price has moved toward the 50% of the move up from the March 8th low at $63.25. We are closing above that level. A move below going forward, would turn the shorter term bias more to the downside.
On the topside, the 100 hour MA (blue line) is moving lower and is at $64.40. Traders will be eyeing that MA on moves higher. Stay below will keep the downside more in play. A move above the 100 hour MA, and this move lower, will look more like a correction.
