Crude oil futures settle the week at $51.59

Close is down $1 or 1.9%

The price of crude oil futures of so the week at $51.59. That is down $1 or 1.9%. The high for the day reached $53.31. The low extended to $51.18.

For the week, the high price was reached at 8 $53.31 before coming off into the close. THe low for the week was on Monday at $48.34. Last week, the contract closed at $47.96.

Looking at the hourly chart above, the -today tested the swing high going back to December 14 at $53.27 (the high reached $53.31). The inability to extend above that swing high help to send the price back to the downside. The pair is still closing just above the rising 100 hour MA at $50.91. That level will be a barometer for the bulls and bears next week.