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Crude oil is higher on the day but still stays below the $70 level

The price of crude oil did rally sharply today with the price settling at $69.42 up $2.30 or 3.43%.The high price extended to $69.83. The low was at $67.15. Looking at the hourly chart above, the run to the upside today stalled just short of the 38.2% retracement of the run down from the June 5 high (at high was at $75.05). The 38.2 retracement level comes in at $69.96 – just short of the natural resistance at $70. Also in play is the falling 100-hour moving average is currently at $70.22. Getti... Read More

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Crude

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Stays

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Posted: Jun 13 2023, 19:46

Author Name: forexlive

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