Up by $1.07 or 2.22%

The US crude oil futures are settling the day up $1.07 or 2.22% at $49.30.

The high today reached $49.37. The low extended down to $48.12.

The price rise today is approaching the 200 day MA (green line in the chart above) at $49.54. Earlier in the month that MA was tested but held. This is the 2nd look at that key MA line. On a move above traders will look for the price to stay above. PS. the price is also testing a key technical trend line.