Up $2.14 or 5.72%. Closes above the 100 day MA
The price of crude oil futures is settling the day at $39.55. That is up $2.14 or 5.72%.
The high price for the day reached $39.68. The low price extended to $37.05. Last Friday the price closed at $35.49. For the week the gain is $4.06 or 11.44%.
Technically, the price today moved above and extended away from its 100 day moving average at $37.43. It’s the 1st close above the 100 day moving average since January 22. The next target comes against the 50% retracement of the move down from the January high to the April low. That comes in at $40.11.
The pair currently trades within a price gap from the March 6 to March 9 time period. That the low on March 6 was up at $41.88. That will also be a target in next week’s trading.