Technical Analysis

US crude oil futures settle at $60.20

Down $0.20 or 0.38%

The price of crude oil futures are settling at $60.20, down $.23 or 0.38% on the day

The high extended to $60.94. The low fell to $60.14.

Technically, the price extended above the 61.8% of the move down from the April high at $60.49 but is back below that level currently.  Yesterday, the price based against the 200 day MA at $58.38 before moving higher. The gains were helped by a sharp draw in the crude oil inventories.  

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