Technical Analysis

Crude oil cracks 100 hour MA and runs to new session lows

Tilts the bias a little. 

As crude oil heads into the close, the price has cracked to new lows, and also fell below the 100 hour MA. The move has tilted the bias a little more to the downside. A trend line comes in at $64.91. The 200 hour MA is at $64.70.  The contract low reached $65.04 so far.  

If those levels are taken out, it would weaken the technical picture even more.  


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