Technical Analysis

Crude oil futures settle the week at $47.96

Shut up $zero.87 or 1.85%

The worth of crude oil futures have settled the week at $47.96.  That’s up $zero.87 or 1.85%.  The excessive for the day reached $49.22.  The low prolonged to $46.65.


For the week, the excessive was right now’s excessive at $49.22. The low for the week reached $44.35. Final week, the contract closed at $45.33 (see publish right here) .

Trying on the hourly chart, the value traded above and beneath the 100 and 200 hour MA in the beginning of the week.  In yesterday’s buying and selling, the value stalled close to these MAs and moved increased. The targets on the topside included the $48.00 stage.  Above that the 50% of the transfer down from the December excessive got here in at $48.46. That was damaged as nicely.  

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