Crude oil futures settle at $40.63

Technical Analysis

Author: Greg Michalowski | crude-oil

Down $0.56 or -1.3%

The price of crude oil had an up and down day today. The price was initially higher rising to $41.47.  However after headline news saying the Norwegian strike was called off, the price rotated into the red and is closing down $0.59 or -1.43% at $40.60. 

Down $0.56 or -1.3%_
The high for the day reached $41.47.  The low extended to $40.38.

Last Friday the price closed at $37.05. The low this week was on Monday at $37. The high was today's high at $41.47. With the price currently at $40.63, the game for the week was 9.66%.

Technically, the price this week moved above its 200 day moving average at $41.12 today. However the pair could not close above that moving average.

On the downside, the 100 day moving average comes in at $40.27.

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