US crude futures are settling at $78.54, down $0.33 or -0.42%.
The session I reached up to $79.62. The low price extended down to $77.78.
At the session high, the price extended above the high price for the year at $78.91. However, the break failed and the price rotated back down.
The 38.2% of the move down from the September 2023 high comes in at $78.15. The 100/200 hour MAs come in near converged at $77.70. Those levels will now be support for the pair, and a risk/bias defining level.
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- Source: https://www.forexlive.com/news/us-crude-futures-settled-at-7854-20240228/
