US crude oil futures settle at $63.22

Technical Analysis

Author: Greg Michalowski | crude-oil-futures

Up $1.55 or 2.51% on the day

The price of WTI crude oil futures settle up $1.55 or 2.51% at $63.22. The high price reached $63.37. The low price extended to $60.97.

Up $1.55 or 2.51% on the day_
Looking at the hourly chart, the price low today (and yesterday) stalled just ahead of its 100 hour moving average. That was the clue technically for a move back to the upside. In the North American session the cycle high at $63 was broken and the price moved up to test a topside trend line on 2 separate occasions including the current hourly bar. That trend line currently comes in at $63.41. The high price for the day reach $63.37.
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