Crude oil futures are trading up over $1 and looks to test 100 day MA

Technical Analysis

Author: Greg Michalowski | crude-oil

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.

Up 1.91% on the day at it to $57.16
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.  
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