Technical Analysis

Crude oil futures settle the week at $51.59

Shut is down $1 or 1.9%

The value of crude oil futures of so the week at $51.59. That’s down $1 or 1.9%.  The excessive for the day reached $53.31. The low prolonged to $51.18.

For the week, the  excessive value was reached at eight $53.31 earlier than coming off into the shut. THe  low for the week was on Monday at $48.34.  Final week, the contract closed at $47.96.

Wanting on the hourly chart above, the -today examined the swing excessive going again to  December 14 at  $53.27 (the excessive reached  $53.31). The  incapability to increase above that swing excessive assist to ship the worth again to the draw back.  The pair continues to be closing simply above the rising 100 hour MA at $50.91.   That degree can be a barometer for the bulls and bears subsequent week.

ForexLive


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