Up $0.43 or 0.76%
The price of crude oil futures are settling the day at $56.66. That is up $0.43 or 0.76%
The high for the day reached $56.72. The low extended to $55.60.
Last week the contract close the week at $53.78. The rise this week of $2.88 is equal to a 5.3% increase on the week.
Technically, the price this week moved back above its 100 day moving average for the 1st time since September 24. The 100 day moving average currently comes at $55.69. The next key target is the 200 day moving average of $57.06. A move below that level would be more bullish for the contract. The 50% retracement of the move down from the mid-September high to the October low comes in at $57.19 - not far from the 200 day moving average.
