Down -$1.61 or -3.06%
The price of crude oil settled at $51.00 today (on the screws). That was down -$1.61 or -3.06% on the day.
The high price today reached $52.81. The low fell to $50.74.
Technically, the price fell back below the 100 and 200 hour MA at $52.33 and $52.11 respectively. The price low from last Thursday reached $50.08. The low from the prior week made it to $49.41. Those levels are targets on more weakness (stay below the 100 and 200 hour MAs).
Sellers in control for now but $50 and below is a formidable challenge on more weakness.
