Crude oil futures are settling at $68.59. That is up $0.22 or 0.32%. The high price for the day extended to $69.02. The low price was at $67.74. Looking at the hourly chart, the price tried to stay below its 100-hour moving average (blue line on the chart below), but pushed higher in the US session extending above the 200-hour moving average as well at $68.57. The price is settling the day just above that moving average level.
Going forward, both the 100-hour MA and the 200 hour MA will remain as key barometers for the buyers and sellers. Stay above is more bullish. Move below is more bearish.
