Crude Oil Futures Bring Back Wind That Brings Our Tailor At $79.58. At $0.84 per day. The selling price is close to today's high. The low for the day was $78.61.
During the trading week, the price rose by 1.87%.
Technically, the price is trading between the 100-day moving average below at $78.57 (blue line), and the 200-day moving average (green line) currently at $79.96.
This week, sellers got their chance with attempts below the 100-day moving average. On Wednesday, the price hit a new low dating back to February 26, hitting a week's low of $76.72. But the price rose again at the close. Inventory data this week showed a surprise drop on Wednesday which helped the price bottom.
The price between the moving averages is currently more technically neutral, but with sellers getting their shots this week, buyers have the nod of control heading into the close and the new week. It will now take another move below the 100 day EMA to wrest control from the buyers.
