Crude oil futures settle at $82.85
Crude oil futures aresettling the day at $82.85. That's up $2.09 or 2.59%.Yesterday, the price fell below its 100-day moving average currently at $80.61, but could not sustain selling and closed back above the moving average level. Today the price did drift back below the moving average to a low of $80.45, but reversed quickly, and is closing near the high for the day at $82.90. On the topside, the downward-sloping trendline cuts across near $84. Getting above that level and the high price from July at $84.52 will be the next upside target on further momentum higher. This article was written by Greg Michalowski at www.forexlive.com.
Crude oil futures aresettling the day at $82.85. That's up $2.09 or 2.59%.
Yesterday, the price fell below its 100-day moving average currently at $80.61, but could not sustain selling and closed back above the moving average level.
Today the price did drift back below the moving average to a low of $80.45, but reversed quickly, and is closing near the high for the day at $82.90.
On the topside, the downward-sloping trendline cuts across near $84. Getting above that level and the high price from July at $84.52 will be the next upside target on further momentum higher. This article was written by Greg Michalowski at www.forexlive.com.
