Technical Analysis

Crude oil futures settle the week at $56.07

Down $-0.59 or 1.04%

The price of crude oil futures are settling the day/week at $56.07. 

For the day, the futures are settling down -$0.59 or -1.04%.  The low extended down to $54.52, while the high extended to $56.51

For the week, the price is up from $55.80 a week ago (up $0.27 or +0.48%) with the low on Friday (at $54.52). The high reached $57.88 on Monday. 

Today the price moved sharply lower and in the process fell below the 100 day MA at $55.22. That was short lived, however, and the price closed above the longer MA.  

Looking the hourly chart, however, the price will close below its 100 and 200 hour MAs at the $56.25-35 area.  The week saw the price waffle above and below that MA line this week. 

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