US crude oil futures settle at $53.10

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $0.69 or 1.32%

The US crude oil futures are settling the day at $53.10. That is up $0.69 or 1.32%. 

The high reached $54.05. The low extended to $52.29.

Technically, the price traded above and below its 100 and 200 hour MA as traders. The high fell short of the $54.25 level that was a ceiling area last week.  The 100 hour MA is at $52.86.  A move below it would tilt the bias more to the downside. Holding and moving above the 200 hour MA at $53.2 would be more bullish. 

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