Crude oil squeezes higher into the month end settle

Technical Analysis

Author: Greg Michalowski | crude-oil

Traits the highest level since March 11

The price of crude oil has squeezed higher into the settlement for the day (and for the month of May too). 

The July contract moved up to a high of $35.77 in the last hour of trading. That was the highest level since March 11. The price is settling at $35.49, up $1.78 or 5.28%.

Technically, looking at the hourly chart,, the price based against its 200 hour moving average before moving higher over the last few hours of trading (green line in the chart above). More recently, the price extended above the high for the week at $34.81.

Crude oil futures squeeze higher into the month-end settle
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