Move and setttle back above $50 levle.
THe US WTI crude oil is settling the day back above the $50 level. The contract ended the price up $1.34 or 2.70%.
The high for the day reached $51.06. The low for the day extended to $49.54
Technically, the contract has been stalling against the 50% of the move up from the August 31 low at $49.22 on Friday and Monday. Today, saw the price break higher and extend above the 100 hour MA (blue line currently at $50.00) and the 200 hour MA (green line at $50.54). The 200 hour MA stalled the rally last week, before moving back to the downside.
