Crude oil futures settle at $39.80

Technical Analysis

Author: Greg Michalowski | crude-oil-futures

Up $0.26 or 0.65%

The price of crude oil futures for November delivery are settling at $39.80. That's up $0.26 or 0.65%. The high for the day reached $40.27, while the low extended to $39.19.

Up $0.26 or 0.65%
Looking at the daily chart, the range for the day stayed above its 100 hour moving average at $3.75 but also well below its 50 day moving average at $41.26. Yesterday, the price also stayed above the lower 100 day moving average but did also move up to test the 50 day moving average on the topside. At some point the pair will make a break outside of those moving averages either to the upside or downside.
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