News


The price of  crude oil  futures are settling at $115.26 . That is up or %. The low for the day reached 114.58. The low for the day extended to 117.87.

Shanghai lifted their lockdown which is a positive for oil. The Russian oil ban in the EU at the end of the year is also positive.

Technically the price did move higher earlier, but is has given up gains and is settling below the 100 hour MA at $115.60. The price has tried to break that MA over the last two days, but momentum has stalled. Nevertheless, keep an eye on the MA for short term bias clues. Stay below is more bearish. Move above is more bullish.



Source link

Articles You May Like

Trump’s Taiwan Comments: Textbook on How to Spook Investors
The USD is the strongest and the NZD is the weakest as the NA session begins
Finding Your Ideal Broker | Forexlive
ECB’s Šimkus: I agree with markets which sees two more rate cuts this year
GBPUSD sellers push price below rising MA, weakening bullish control

Leave a Reply

Your email address will not be published. Required fields are marked *