Crude Oil Futures Settling In After Wild Week

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Crude Oil futures are trading lower by $0.50 at $45.25 in Friday's session. It has been a volatile week in the contract as treated violently in a large range from $43.21 to $49.33. The high close for the week was posted on Monday at $49.20 and low close for the week thus far was on Tuesday at $45.41.\ At this time, the contract is digesting the monster rally from its multi-year low that was made on August 24 at $37.75. Technicians may be focusing on the midrange of the $11.58 rally to determine if the rally is for real or simply a dead cat bounce.. That comes in at $43.54. Interestingly it tested that level on Monday when it bottomed at $43.60 and then again on Wednesday whenit bottomed at $43.21.