The price of crude oil futures settled at $80.95, up $0.91% or 1.14%. The high for the day reached $82.25. The low reached $79.86.
Crude oil bounced off the end of 2021 year close yesterday
Looking at the daily chart, the low yesterday reached the closing level from the end of December 2021 on the fall. Buyers stalled the fall and the headline news that OPEC was not looking to cut production sent the pair higher.
There is a swing area between $81.54 and $82.66. The high price today stalled within that area and $82.25. Moving above would increase the bullish bias on the daily chart.
