Crude oil squeezes higher into the month end settle

Technical Analysis

Traits the highest level since March 11

The price of crude oil has squeezed higher into the settlement for the day (and for the month of May too). 

The July contract moved up to a high of $35.77 in the last hour of trading. That was the highest level since March 11. The price is settling at $35.49, up $1.78 or 5.28%.

Technically, looking at the hourly chart,, the price based against its 200 hour moving average before moving higher over the last few hours of trading (green line in the chart above). More recently, the price extended above the high for the week at $34.81.

Articles You May Like

Secret System: This is How Professional Traders Take Advantage of Psychological Numbers
Building Your Trading System (…Not Strategy) [Part 1 – Trading System & Strategy]
Gold hits $1,800 for the first time since November 2011
The Beginners Guide to Forex trading – Part 1
SECRET to forex trading like a pro – forex trading strategies pro forex traders use