Up $0.65 or 2.78%
The US crude oil futures are settling at $24.01. That is up $0.65 or 2.78%.
The high for the day was up at $25.16. The low for the day fell to $23.09.
Looking at the hourly chart below, the pair traded above and below the 100 bar MA at $23.75. The price settled above that level tilting the bias a little more to the upside. Stay above is giving the buyers a victory. Move below, and the bias tilts back to the downside.
If the price is to go higher, getting above the topside trend line at $24.86 is the next target (and moving higher). Above that is the 200 hour MA. The price of crude oil has not traded above the 200 hour MA since February 24th.
This article was originally published by Forexlive.com. Read the original article here.