Oil hits the best levels of the day into settlement

Technical Analysis

Author: Adam Button | oil

WTI crude oil up 17-cents to $71.49

It's been one of the quieter recent days in crude oil but it's turned into a victory for the bulls.

After trading lower for nearly the entire day, crude caught a bid into settlement and rallied to $71.50 from a low of $70.66 It climbed 30-cents in the final 20 minutes before the bottom of the hour.

In the bigger picture, the late rally doesn't change much but the continued ability to find a bid even in an uncertain market is a great signal.


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