US crude oil futures settle at $39.57

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $1.01 or 2.62%

The price of crude oil futures settle today at $39.57. The price moved up $1.01 or 2.62%.

The high for the day for the December contract reached $39.83.

The price remains below its 100 and 200 day moving averages. The 100 day moving average is up at $40.95. The 200 day moving averages at $40.38. The last few months of seen the price trade up and down between $37 and $42 (roughly).  At some point the range will be broken and the price move to another area.  For now, the "market" is sitting near the middle of the range with a bearish bias below the daily moving average levels.

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