Crude Oil Technical Analysis
WTI crude oil could be increasingly vulnerable to a turn lower after prices took out the key 78.24 – 79.15 support zone. This has also confirmed a breakout under the long-term 200-period Simple Moving Average (SMA) on the 4-hour chart below. That has exposed the 38.2% Fibonacci retracement at 76.35 towards the midpoint at 73.55.
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