What can’t go up is headed lower.
Crude oil caught a big bid earlier in US trading and shot nearly $1 higher to $104.20 but the gains faded almost immediately and now crude has reversed to the lows of the day and is now testing yesterday’s low of $103.19 and the 55-day moving average at ($103.25). Below that the next level of support is the 100-dma at $102.44.
WTI intraday
