Crude oil futures settle at $81.07

Technical Analysis

The price of crude oil futures are closing at $81.07, down $0.20 or -0.25%. The high for the day reached $81.92. The low for the day was at $80.30.

News out of Israel was that Israeli forces will look to control Rafah despite opposition from Washington.

Looking at the hourly chart, the low price tested its 200-hour moving average at $80.30, and found support buyers (see green line on the chart below).

The price currently trades near the middle of the range between the 100-hour moving average above at $81.63, and it 200-hour moving average below at $80.36.

Articles You May Like

Gold subdued as investors brace for US inflation print
Sellers are making a play in the USDCHF. Can they keep the momentum going?
Gold headed for weekly gains on revived hopes of Fed rate cuts
DAX Futures Analysis and AI Price Prediction
Greenland, Canada and the Panama Canal: What is the real plan here?

Leave a Reply

Your email address will not be published.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