Crude oil futures settle at $40.22

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.93 or 2.37%

The price of WTI crude oil futures are settling at $40.22. That's up $0.93 or 2.37%. The high price reached $40.37. The low price extended to $38.68.

Up $0.93 or 2.37%
Technically, the price move back above its 100 day moving average currently at $39.68. The next upside target would be at the 50 day moving average at $41.38. The 200 day moving average is just above that level at $41.72.

The price of crude oil closed for today's below its 100 day moving average but could not sustain the downside momentum. Nevertheless the 100 day moving average will continue to be a key barometer for the market going forward.

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