Crude oil futures are settling at $77.58. That is up $1.09 or 1.43%. The high for the day reached $78.03. The low extended to $75.84.
Looking at the hourly chart, the price is back above the 100/200 hour MA blue and green lines) Those MAs are near converged at $77.45. Staying above is a tilt to an upside bias. Moving below is a tilt to the downside.
A move higher, has ceiling area target between $76.52 to $76.91 (see red numbered circles. Getting above and staying above is more bullish.
The downside has a floor area between $75.54 to $75.84 (see green numbered circles). Moving below, and staying below is more bearish.
With the price above the 100/200 hour MA the buyers are taking the control
