Crude oil futures settle at $104.79

Crude oil settles between 100 and 200 hour moving averages

The price of WTI crude oil is settling at $104.58, up $2.06 or 2.01%.

The low for the day reached $101.54. The high reached $105.21.

A week ago, the price closed the week at $108.48. The low this week reached $95.13 on Wednesday. The high reached $111.42 on Tuesday.

Looking at the hourly chart, the price is settling between the 100 hour MA below at $102.90, and the 200 hour MA above at $106.12. Next week, traders will be looking for a break in either direction to provide the technical directional bias.

The weekly oil inventory data released on Thursday showed a much larger than expected build in inventories of .

Key event next week, Biden heads to Saudi Arabia.

This article was written by Greg Michalowski at

Go to Forexlive

Wie hilfreich war dieser Beitrag?

Klicke auf die Sterne um zu bewerten!

Durchschnittliche Bewertung 0 / 5. Anzahl Bewertungen: 0

Bisher keine Bewertungen! Sei der Erste, der diesen Beitrag bewertet.

Es tut uns leid, dass der Beitrag für dich nicht hilfreich war!

Lasse uns diesen Beitrag verbessern!

Wie können wir diesen Beitrag verbessern?