The the price of crude oil futures are settling at $42.01. That’s down -$0.23 or -0.54%. The high for the day reached $42.57. The low reached $41.60.
The prior 6 weeks has seen the crude oil price settle between $40.27 and $41.29.
The close this week is $0.75 above the highest close over the 6 weeks. Yippee.
That’s the good news. The bad news is that the price still remains mired in a narrow trading range.
The 50% of the 2020 range comes in at $41.71 and the price is above that level. The 200 hour MA remains an upside target at $43.52 (green line).