Crude oil futures settle at $61.78

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.74 or 1.21%

The price of crude oil futures are settling at $61.78. That is up $0.74 or 1.21%.  Two Saudi oil pumping stations were attacked by "armed drones". Nothing was damaged nor injuries reported.  This attack came after an attack on Saudi oil tankers in the Persian Gulf on Sunday. 

The high today reached $62.11. The low extended to $60.69. 

Crude oil remains above the 200 day MA.
Technically, the price remains about the 200 day MA (green line in the chart above).  The last 9 days of trading has seen the price flirt with going below that MA line (at $60.69 today which was the low today), but stalling on each attempt.   Until that line is broken, the buyers hold on to control.  

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