Crude oil futures settled at $62.79 on the day, gaining $0.52 or 0.84%. The modest rise reflects a market still searching for direction, as traders weigh near-term supply dynamics and broader macroeconomic uncertainty.
From a technical perspective, the hourly chart shows crude largely trading between its key moving averages. The 100-hour moving average currently sits at $63.04, acting as resistance, while the 200-hour moving average at $62.20 provides support. While the price did briefly extend beyond both of those levels—reaching a high of $63.27 and a low of $62.01—it has since pulled back into that range.
This consolidation suggests the market is in a state of indecision, awaiting a catalyst to drive a more sustained breakout. For now, the 100- and 200-hour moving averages remain the critical markers. A move above the 100-hour MA would open the door for further upside momentum, while a break below the 200-hour MA could signal a deeper correction. Until then, crude remains range-bound, with traders watching for the next directional shove.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about crude oil futures settled 62 79 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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