Up $0.50 ore 1.06%

The US Crude oil futures continued to rebound in trading today. Since the low from last week at $43.76, the price has rebounded to a high of $48.22 today.

The futures closed up $0.50 or 1.06% to $47.83. The high reached $48.22. The low $47.34.

Technically, the price is trading above the 38.2% of the move down from the April high. That comes in at $47.58. It also kept above the lows from March 2106 at $47.01-09 area. The not so bullish perspective, is the price is below the 200 day MA at $49.08, and the 100 day MA at $51.35.