US crude oil future settle at $46.02, down -$0.52

Author: Greg Michalowski | Category: News

Down -$0.52 or 1.12%

US crude oil futures are settling at $46.02, down -$0.52 or 1.2% on the day.
The high reached $46.88. The low extended to $45.97. The price is settling near the lows for the trading day. 

Technically the 50 day MA is at 46.56. The price closed near that MA on Friday and traded above and below the MA today and on Friday. However, the fall into the close has the contract back below the MA level (more bearish).  If the price is to go higher, that MA needs to be busted.