US crude oil futures settle at $52.75

Technical Analysis

Down $0.06 or -0.11%

The price of crude oil futures are settling at $52.75 near session lows. That is down -$0.06 or -0.11% on the day.

The high reached $54.06.

The low reached $52.59

Technically, the price rise today was able to get above the 100 hour MA and trend line but that break (100 hour MA is at $53.05) failed.  The price fell back below the 100 hour MA and trend line.  Staying below those levels keeps the bears more in control.  It’ll now take a move back above the trend line and MA. 

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