Technical Analysis

WTI crude oil futures settle at $51.99

Down $1.70 or Three.17%.

The worth of crude oil futures settlement day with sharp declines, however off intraday lows.

The costs settling at $51.99. That’s down $1.70 or -Three.17%.  The excessive for the day prolonged as much as $53.64. The low fell to $51.33 earlier than recovering into the shut.  Wanting on the hourly chart under, the value fell under the 100 and 200 hour MAs at $52.90 and $52.79 respectively. Staying under willl hold the sellers extra in management.  

The subsequent targets on the draw back are on the Jan 17 low at $50.98 and the January 14 low at $50.38. The 38.2% of the transfer up from the December low is available in at $49.70.

Down $1.70 or 3.17%.

Brent crude is settling down $1.71 or 2.77% at $59.93 per barrel.

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