Crude oil for April delivery settles at $77.04 | Forexlive

The price crude oil is settling at $77.04. That’s down $1.42 or -1.82%. The high price reached $78.56. The low price reached $76.80.

Technically the price is trading between at 100 and 200 hour moving averages. Those levels come between $77.52 for the 100-hour moving average, and the 200-hour moving average at $77.02 (see blue/green lines on the chart below).

Today, the price fell below the 100 hour MA, but did find some support near the 200-hour MA. That neutralizes the bias in the short term with traders on alert for the next shove away from one or the other MA level.