The price of crude oil futures is settling at $77.90. That is up $0.15 or 0.21%. Looking at the hourly chart below, the price how I tested the 38.2% retracement of the move down from the April high to the June low. That retracement level comes in at $78.22. The high price was just above that at $78.33 before rotating back to the downside.
If the buyers are to take more control getting and staying above that retracement level would show the buyers are a little more serious after the trend move lower from the April high.
