Thursday , 21 November 2024
Home Forex Crude oil futures settled at $73.24
Forex

Crude oil futures settled at $73.24

Crude oil futures are settling at $73.24. That is down -$0.33 or -0.45%.

The low price today reached $71.58. The high price extended to $74.41.

Technically, looking at the daily chart, the price today fell below its 50 day moving average and the broken 38.2% retracement near $72.60, and rotated to the low of the swing area near $71.44 before rotating back to the upside (the low price was at $71.58).

The price is also back above the 38.2% retracement but below the 50% midpoint of the range since the July high. Getting above the 50% midpoint at $74.89 and then the 100 day moving average at $76.01 and 200 day moving average at $77.39 would increase the bullish bias.

On the downside a move below $71.44 would increase the bearish bias.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Australian economy – household income has collapsed back to 2009 levels

This is via Roger Wilkins, an economist at The University of Melbourne.A...

ICYMI – SEC Chair Gensler to Depart Agency on January 20

The US Securities and Exchange Commission announced on Thursday that its Chair,...

Deutsche Bank: EUR/USD could fall below parity, potentially reaching 0.95 or even lower.

A note from Deutsche Bank analysts see them warning that a full-force...

Australia preliminary manufacturing PMI November 49.4 (October was 47.3)

Australia Judo Bank / S&P Global data. Mixed bag, up for manufacturing...