The high for the day reached $63.93, while the low came in at $63.31, leaving a relatively narrow trading range.

Looking across the week, the market established a low at $61.45 on Monday, before testing the falling 100-hour moving average and quickly rotating back down to a Tuesday low of $61.67.

From that point, momentum shifted as the price climbed above both the 100- and 200-hour moving averages, only to retrace back to the 100-hour average on Thursday, where buyers reemerged to defend support. The rebound carried through into today’s session, with the rally extending to $63.93 — the highest level of the week.

For the trading week, the price is up 1.05%. Although the price is above the 100/200-hour MA giving the buyers some control in the short term, the price is still below the 100-day MA at $64.36. The price is also below the 38.2% of the move down from the end of July high at $64.91. Getting and staying above both those levels is needed to give the buyers more control.