US Crude oil settles at $49.51 /bbl

Up $1.14 or 2.12%

The US Crude oil settles at $49.51/bbl. That is up $1.14 or 2.12%

The high reached $49.54 today while the low extended to $48.38.

Technically, yesterday the price stalled near trend line support, but stalled the rally near the 200 day MA a $48.59.

Today, that MA was broken and the price moved higher.

The 38.2% of the move down from the Feb high comes in at $50.04. The 100 day MA is at $50.74. Those are the next targets.