Crude oil futures are trading up over $1 and looks to test 100 day MA
Up 1.91% on the day at it to $57.16
crude oil futures are trading higher in the day. The front contract trades at $57.16 that's up $1.07 or 1.91%. The run higher has the price looking toward the 100 day moving average at $57.31. The price of crude has not treated above is 100 day moving average (blue line) since October 19. Key level.
Looking at the daily chart below, the 50 day MA stalled falls since the break above back in January (white MA line)
On a move above the 100 day MA (the moving average should give traders cause for pause on the first test though), the 50% retracement comes in at $59.63.