US crude oil settles at $54.47

Author: Greg Michalowski | Category: News

Down $0.76 or -1.38%

The price of crude oil futures are settling at $54.47. That is down $0.76 or -1.38%

The high price today reached the $55.33. The low extended to $53.73.

Looking at the hourly chart below, the pair traded mostly above the 50% retracement of the move up from the August 7 low. That comes in right at the $54 level.  The 100 hour moving averages above at $55.03. The 200 hour moving average is at $54.31, just below the closing level.  Call neutral $54 to $55 with a break with momentum eyed for the next move in the contract.

Down $0.76 or -1.38%

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