Crude oil futures settle at $57.66

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.15 or 0.26% on the day

The price of crude oil futures are settling at $57.66. That is up $.15 or 0.26%. 

Up $0.15 or 0.26% on the day

The high for the day reached $58.46. The low extended to $57.30..

Looking at the hourly chart of crude oil below, the pair traded most of the day between the 100 hour MA below at $57.17 and the 200 hour MA above at $58.19.  There was a quick move above the 200 hour MA that quickly failed, and the price came back down toward the lower MA level. 

At some point, there will be a shove outside that range, that won't fail.
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