US WTI crude oil futures settle at $50.55, down -$0.14

Technical Analysis

Author: Greg Michalowski | us-crude-oil-futures

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.