US WTI crude oil futures settle at $50.55, down -$0.14
Falls -0.28% on the day
The US crude oil futures are settling the day down -0.14 cents on the day or -0.28% at $50.55. The low reached $50.07. The high reached $50.81.
Technically, the price is moving away from the 200 day MA (green line) at $48.65. The last 4 trading days has seen higher lows and higher highs too. The price is also above the 61.8% of the move down from 2017 high in January. That comes in at $50.20. That is a closer risk level now.
Can the buying continue? Watch the $50.20 for support. For wider risk, a close below the 200 day MA would pour water on the recent bullishness.
The next key target above?
The $52.00 was the swing high from May 2017.