Crude oil futures settled at $63.41, up $1.13 or 1.81% on the day. On the topside, the 100-day moving average at $64.38 remains the next key target. A break above and sustained move through that level would give buyers greater control and open the door for further upside momentum.
On the downside, a swing area between $61.45 and $61.94 has provided solid support, holding both yesterday and today. As long as price action stays above that zone, buyers are still in play. However, the real test for bullish conviction remains a move through the 100-day moving average.
