Oil touches new session low; broad sentiment worsening

Discussion in 'Technical Analysis' started by ForexLive, Mar 8, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    WTI crude down $1.61 to $36.28 A rip in oil yesterday has turned into a rout today. The big driver has been the terrible Chinese trade numbers. Technically, the rally stopped right when it was supposed to. I've been for weeks and the high earlier today was $38.39 which was precisely the Jan 4 high and just ahead of the 50% retracement.

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