DOWN AGAIN BEFORE NY OPEN

7 Nis 2022

Crude oil prices are trading below triangle support, and bearish momentum is gathering pace with prices below their daily 5-, 8-, 13-, and 21-EMA envelope, which is in bearish sequential order. Daily MACD is on the verge of dropping below its signal line, while daily Slow Stochastics are on the cusp of entering oversold territory. Targets lower include the March 15 low (93.53) and the February 18 low (87.46).