Contributors Technical Analysis Crude Oil The Downside Prevails

Crude Oil The Downside Prevails

Pivot (invalidation): 64.60

Our preference Short positions below 64.60 with targets at 63.00 & 62.40 in extension.

Alternative scenario Above 64.60 look for further upside with 65.15 & 65.55 as targets.

Comment The RSI has broken down its 30 level. The prices are trading below both 20-period and 50-period moving averages.

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