Up $0.55 or 1.18%
The price of crude oil futures are settling at $47.09. today. That is higher by $0.50 or 1.1%.
The high for the day reached $47.49.
The low extended down to $45.35
Technically, looking at the hourly chart below the price action has been up and down in trading today. At the lows, the price stalled near the 100 and 200 hour MAs. Those MAs are near each other at $45.68 and $45.58 respectively. The price is currently trading just above the 38.2% of the move down from December high at $47.02. Staying above (and it has not been easy so far) would keep the buyers/bulls more in control with a run toward $48 (high from December 19), and $48.46 (50%) as the next upside targets.
