Trades at $57.66 currently
The price of crude oil is trading dow nearly 1 dollar or -1.67% at $57.66. The low for the day reached $57.43.
Technically, the price remains between the 200 day MA below at $57.16, and the 100 day moving average above at $59.25. The price has closed higher for five straight days. The close yesterday was at $58.58. A move below the 100 day moving average will be more bearish for crude oil. The inventory data released yesterday from the Department of Energy showed another big draw of -8496K.
