Down -$0.19 or 0.38%
The price of crude oil futures is settling at $49.39. That is down $0.19 or 0.38% on the day.
The high price extended to $49.73. The low reached $48.54.
Technically, the pair traded above and below the 100 and 200 hour MAs but is closing above each (they are at $49.20-22 area). That is a touch more bullish but note that the contract has lower lows at the recent swing highs.
On the downside, the lower trend line now has 3 points (with today's low stalling the fall).
So overall, there is some caution with the price action but above the MAs makes it a touch more bullish for now. A break below the MAs and the bias goes the other way.
