US crude oil futures settle at $52.77

Technical Analysis

Author: Greg Michalowski | us-crude-oil

Of $0.50 or 0.96%

The price of WTI crude oil futures for March delivery is settling at $52.77. That's up $0.50 or 0.96%.

The high price reached $52.88. The low price extended to $51.82.

Looking at the hourly chart above, the price high for the day tested the converge 100 and 200 hour moving averages near $52.80. The high price extended to $52.88 before rotating marginally to the downside. A move above both those moving averages would tilt the bias more to the upside. Staying below keeps the sellers more in control.

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