US crude oil futures settled $72.57

US crude oil futures settled at $72.57, gaining $zero.32 (+zero.44%) on the day. Costs ranged between a low of $71.76 and a excessive of $73.10.

On the hourly chart, at present’s low discovered help close to the 200-hour transferring common, reinforcing its significance as a key degree for patrons within the quick time period. The 100-hour transferring common at $71.59, additionally serves as a near-term help—staying above it retains bullish momentum intact.

Key Technical Ranges:

• Help: $71.76 (200-hour MA), $71.59 (100-hour MA)
• Resistance: $74.09 (38.2% retracement of January’s decline), $73.62 (February 11 excessive)

A transfer larger will goal the swing excessive from Feb 11 at $73.62 as the following goal. Above that degree and the 38.2% at $74.09 can be focused.

Holding above the 200-hour MA stays essential for patrons to keep up management.

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



Source link