Technical Analysis

Crude oil futures settle at $46.54, up $1.13 on the day

Up 2.49%

The US crude oil futures are settling up $46.54, up $1.13 or 2.49%.

The low for the day reached $44.35

The excessive for the day prolonged to $47.78

Technically, wanting on the hourly chart above, the value moved above the 100 and 200 hour MA at noon. That helped to show the patrons to sellers (at $45.53 and $45.65 respectively).  Keep above these transferring averages would give the patrons extra of the sting.

On the topside, the excessive on December 19 got here in at $48.00. That’s the subsequent goal to get above.  After that, the 50% of the transfer down from the December excessive, is available in at $48.46.  

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