The crude bulls have tried to make a stand around $46 but every time it gets above $49, the sellers hit right back and drive it back down.
The latest move came at the floor close and pushed WTI crude below $46 for the first time since Jan 14. The next support was the low that day at $45.01.
It’s looking more and more dire for crude by the moment. There have been some hit-and-miss period of US dollar weakness since the start of the year but crude hasn’t been able to make any headway.
WTI crude – Where is the bounce?
