Crude oil futures are settling at $71.48. That’s up $2.12 or 3.05%. The high price reached $71.83. The low price extended to $68.81.
The move to the upside took the price above its 100-day moving average at $70.66, and also its 38.2% retracement of the move down from the 2025 high (on January 15 to the 2025 low on March 5). The retracement level comes in at $71.16. The next major target comes against the 200-day moving average is $72.73. The last time the price traded above its 200-day moving averages was back on February 3.
This article was written by Greg Michalowski at www.forexlive.com.
