US crude oil futures settle at $65.29. Price is above the midpoint since 2021 ...Middle East

On the daily chart, today’s move is technically significant. The price rose back above the 50% retracement level of the advance from the 2021 low to the 2022 high, which sits at $64.71. While most of the price action since 2021 has remained above that midpoint, oil had consistently closed below it since April—until today. Reclaiming this level strengthens the short-term bullish case.

On the downside, traders will now look to the $64.71 midpoint as immediate support. Failure to hold above this level would suggest the breakout has failed, potentially triggering a fresh wave of selling. Below that, focus shifts to swing lows from May between $64.14 and $63.57, which would serve as the next technical targets.

This article was written by Greg Michalowski at www.forexlive.com.

Read More Details
Finally We wish PressBee provided you with enough information of ( US crude oil futures settle at $65.29. Price is above the midpoint since 2021 )

Also on site :

• Ben & Jerry's New Ice Cream Flavor Has Fans Saying the Same Thing
• Iconic '70s Rocker Releases First Album In Nearly a Decade
• 2 healthcare workers accused of elder abuse after woman, 92, found with broken bones