Crude oil futures settle at $73.16

The value of crude oil is settling at $73.16, which is up $zero.63 or zero.87%. The excessive for the day reached $75.16. The low was at $72.05.

Technically, the value at session lows has been discovering help on the 61.eight% of the transfer up from the mid_December low. The value examined that stage three separate instances and every time bounced.

The transfer increased did lengthen above the 200 hour MA (inexperienced line) at the moment at $73.91, however every of these breaks failed.

The present value is slightly below the 100-hour MA at $73.20 (blue line on the chart under). The 200 hour MA is at $73.91. Getting above each is required to extend the bullish bias right this moment and going ahead. Staying under could be extra bearish technically.

This text was written by Emma Wang at www.ubaidahsan.com.



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