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Ends up $2.02 or 3.07%
The price of crude oil has settled at $67.86. That is up $2.02 or 3.07%.
- The high today reached $68.08
- The low today reached $65.98
The move higher was helped by a sharper than expected draw in crude oil inventories today. The inventories fell -5836K vs -2000k expected.
Technically, the price of crude oil remains below the 100 day MA at $68.42 and above the 200 day MA at $64.43. The high today got within $0.34 of the 100 day MA. Last week the 200 day MA was tested but held.
Traders are battling and waiting for the next push.
This article was originally published by Forexlive.com. Read the original article here.