The price of crude oil is settling at $60.57 up $0.09 or 0.15%. The high price reached $60.79. The low price was at $59.64. At session highs the price tested its falling 100 hour moving average at $60.79 and at session lows the price tested the rising 200 hour moving average currently at $59.82 (moving higher).
With the defining the trading range on the top and bottom side, traders will be using the moving averages for bias defining clues going forward. Move above the 100 hour moving average should solicit were buying. Move below the 200 hour moving average should solicit more selling.
