The price of crude oil extended to the downside in trading today, with the price falling by -$0.52 or -0.82% to $62.65. That is he lowest level since June 1.
Looking at the daily chart, the price is moving further away from its 100-day moving average at $64.77. The price is also moving away from the low of a swing area near $63.61. The swing area goes from $63.61 to $65.27. The sellers are more control.
If the buyers are to take back some control, they would need to get above those levels, including the 100-day moving average (at $64.77) and the high of the swing area (at $65.27). Absent that in the buyers are still losing from a technical perspective. Move above and I would expect that the sellers on the break, would be disappointed.
The oil inventory data earlier today showed a greater build in crude oil stocks:
US crude oil inventories +3.036M vs -0.275M estimateVisit investingLive.com to stay informed on real-time market data and analyses needed for strategic decisions.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about us crude oil futures settle at 62 65 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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