Crude oil futures settle at $63.98
Down -$0.42 or -0.65%
The price of crude oil is settling at $63.98. That is down $.42 or -0.65%. The high reached $64.79 today. The low extended to $63.68.
Technically, looking at the hourly chart below, the highs today found sellers near a topside trend line connecting highs from March 26, April 2 and April 3. Buyers turned to sellers. The price wandered lower.
Having said that, the pair remains above a rising trend line and the 100 hour MA at $63.28 and $63.10 respectively (both are rising). Going forward, staying above those levels keeps the bulls more in control. A break below, would lead to more selling, with the 200 hour MA (green line) at $61.96 as another target.