Up $.84 or 1.70%
The US crude oil futures are settling the day at $50.35 per barrel. That is an iincrease of $.84 or 1.7%.
The high price extended to $50.47. The low reached $49.27.
Looking at the daily chart below, the contract is approaching resistance between $50.71 and $50.97. In that area, includes the low from January $50.71, the 100 day moving average at $50.80 and the 50% retracement of the moved down from the February high at $50.97 (See chart below). This area should provide strong resistance on the first test, with stops on a break.
