Up $0.70 or 1.54%
The US crude oil futures are settling at $46.22. That is up $0.70 or 1.54% on the day.
The high reached $46.68. The low today extended to $43.76.
Technically, the price fell below a retracement support target at the $44.09 (38.2%) but recovered.
This week, the price fell below trend line support and also the lows from March in the $47.00 area. That increased the momentum to the downside.
The move lower in the oil helped to support the USDCAD this week. The USDCAD traded in a up channel for most of the week. Today, that channel was broken with the help from the the rebound in oil, and more bearish technicals (see chart below).
