Crude oil futures settled at $65.16, down $0.87 on the day.
Earlier this week, the value briefly broke under the falling 100-day transferring common (blue line on the chart), however every time, draw back momentum pale and every day closes returned above that stage—indicating a scarcity of sustained bearish conviction.
Heading into the brand new buying and selling week, sellers would wish to push and maintain the value under the 100-day transferring common to extend the bearish bias. A break under the swing space low at $63.61 would additional bolster draw back momentum and vendor confidence.
On the topside, resistance is seen at $66.96, adopted by the 200-day transferring common at $67.99.
This text was written by Greg Michalowski at investinglive.com.
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