Crude oil futures are settling at $72.68. That represents a gain of $0.66 or 0.92%. The high-priced extended to $75.25. The low price reached $72.36. The sharp rise to the upside was spurred on by the US and UK bombing of Houthi rebel in Yemen. The price rises did extend above the January 5 high (high for the new year) at $74.15, but reversed lower and ended up using that level as resistance when rebroken to the downside (see chart above). The low price did find support buyers near the 100/200 hour MAs centered near $72.30 currently (blue and green lines on the chart below). That level will be a key barometer going forward. Bullish above. Bearish below. This week, the US inventory showed
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