Crude oil futures settle the day/week at $64.30

Author: Greg Michalowski | Category: News

Up $0.50 or 0.78%

The price of crude oil is ending the day/week by settling at $64.30. That is up $0.50 or 0.78%. The high price today reached $64.36. The low $63.06. 

The price is higher despite a rise in oil rigs in the current week by 10 oil rigs.  

Technically, the price today, the low stalled right above the 200 hour MA (currently at $63.10 and moving higher). That is nothing new. There now are no fewer than 6 tests since December 19th of the MA line. Bulls are remaining in control.