Crude oil futures settle at $72.40

<p>Crude futures are settling the day at $72.40. That is down $0.28 or -0.39%. The low price reached $71.74. The high price reached $73.53.</p><p>The price action today was up-and-down, trading above and below its 100 and 200-hour moving average is in the process. The 200-hour moving average is at $72.51. The 100 hour moving average is at $72.62. </p><p>At session lows today, the price tested an old trendline and bounced. That trendline was broken during Monday's trade but quickly reversed. Today, the "old line" stalled the fall.</p><p>The declines today came despite increased tension the Red Sea. A higher dollar was a contributor to the downside tilt. </p>

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