Crude oil futures settles the day and week at $61.94

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.13 on the day or 0.21%

The price of crude oil is settling the day (and week) at $61.94.  The high price today reached $62.52. The low extended to $61.30. The contract rose $0.13 or 0.21% on the day.

Up $0.13 on the day or 0.21%
Technically, yesterday the contract stalled at the 200 day MA. That comes in at $60.95 and the low from yesterday reached $60.95. That MA will be a key barometer in trading next week. Stay above is more bullish. Move below is more bearish.

Last week the pair closed on Friday at $63.30.  The high for the week reached $64.75 on Tuesday and the low yesterday at $60.95 was the low. 

Crude oil inventory this week showed a huge 9934K build which helped to cap the topside. 

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