Crude oil futures settled at $68.55, down $0.14 (-0.20%) on the day. Costs traded between a excessive of $69.26 and a low of $67.82.
From a technical perspective, consumers made an try to push above the falling 100-hour shifting common, at present at $68.77, however the transfer lacked follow-through and rapidly pale. In the meantime, the 200-hour shifting common, now at $69.59, has remained untested and unbroken since June 11, underscoring the broader bearish bias.
For consumers to regain management, they should break above and maintain above each shifting averages. Till then, the sellers stay firmly in command.
On the draw back, the following key goal is available in finally week’s low of $67.04. A break under that stage would enhance the bearish momentum and open the door for a deeper transfer to the draw back.
