The micro crude oil futures contract advanced to $75.50, its highest point this week, boosted by sustained risk-on appetite in global markets. Some traders are eyeing $76.50 as a psychological ceiling before profit-taking kicks in. See on the daily bar chart for December crude oil futures that price action has been choppy and sideways but the selloff from last week’s seven-week high has given the bears fresh downside momentum. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the blue MACD line has just crossed below the red trigger line. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Micro crude oil futures are showing increased volatility this week, with prices bouncing between $73.50 and $75.