Up the $1.99 or 4.45%
The price of crude oil futures settle today at $46.75. It was good enough for a gain of $1.99 or 4.45%. The price had tumbled down from a February 20 high of $54.50. To a low today at $43.32. The low price was the lowest level since December 26, 2018 and got within one dollar of that December low at $42.36. The 2017 low price was further from that low at $42.05.
The holding above those key swing lows, gives buyers some hope for a corrective move higher. Getting back above the $50 level and the swing lows from June and September at $50.60 and $50.52 respectively would help as well from a technical perspective..
For now however, the contracts trades between the series of swing lows below, and resistance levels above.
