Price peaked at $50.92 on Friday. USDCAD holds 100 day MA at
Oil has been on a slow climb in the near term that took the price to a high of 50.92 on Friday. That peak got close to the 100 day MA (blue line in the chart below) which today is at the $51.18 level. The price of the Crude oil futures has not been above the 100 day MA since early July (see blue line in the chart below). The 50% of the move down from the May high at 65.03 comes in at $51.77. This too should put a lid on the upside.
Oil holds 100 day MA and falls lower. USDCAD hold 100 day MA and rises
