Crude oil futures settle sharply higher

Move and setttle back above $50 levle.The US WTI crude oil is to set the day back above$ 50. The contract ended the price $1.34, or 2.70%.

The high for the day reached $51.06. The low for the day extended to $49.54
Technically, the contract has been stalling against the 50% of the move up from the August 31 low at $49.22 on the Friday and the Monday. Today saw the price break higher and exceeds the 100 hour MA (blue line currently at$ 50.00) and the 200 hour MA (green line at $50.54). The 200 hours of MY blocked the rally of the last week, before coming back down.

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