Down -$0.54 or 1.02%
The front crude oil futures contract is settling at $52.63 /barrel. That is down $-0.54 or -1.02%.
The price remains confined to a narrow trading range with the high at $55.24 and the low at $49.67 (since the beginning of December). The $52.63 settle price is near the middle of that trading range. Technically, the price is settling below the 100 and 200 hour MAs at $53.18 and $52.69 respectively. That gives the bias a small bearish bias. If – going forward – the bias is to turn around (or start to turn around), a move back above those MA levels will now be eyed. That would be the start. The highs from last week at $54.08 will also be eyed as a key upside target.
US crude oil futures settle at $52.63/barrel. Remain contained in a range.
