The price of crude oil futures are settling eight cents higher at $63.96. The high price today reached $64.44 the low price was at $63.02.
Looking at the hourly chart, the price consolidation seen over the last few days has led to the 100-hour moving average catching up with the price. The current 100 hour moving average is at $64.49 and moving lower. Going forward, a move above that moving average would be the first since August 1, and would tilt the bias in the short term to the upside.
This article was written by Greg Michalowski at investinglive.com.