Crude oil futures settle at $63.10

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.34 or 0.54% on the day

The price of crude oil futures have settled the day at $63.10. That is up $0.34 or 0.54% on the day.

Up $0.34 or 0.54% on the day

The high price extended to $63.81. The low extended down to $62.45.

Saudi Energy Minister Khalid Al-Falih's pushed this weekend for the OPEC+ coalition to "stay the course" with regard to output curbs. 

Although higher, trading was up and dwon in trading today.  Technically, the price at the lows today stalled at the 100 hour MA twice (currently at $62.53). Stay above that MA line will be a barometer for the bulls and bears going forward. 

Tomorrow the front June contract expires and will be replaced by the July contract.  The price is trading about $0.15 higher.  

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