50% is also in play
The weekly inventory data will be released at the bottom of the hour. The expectation is for a -4.1M draw after the massive -12.6M draw. Last night the private data showed a surprise build (albeit a modest build):
The price of crude oil is trading down -$0.66 on the day or -0.97% at $67.43. That is getting close to the 100 day MA at $67.11. Yesterday that levels was tested and bounce. Also in view is the 50% retracement at $66.67.
Those are key levels on the downside. Be aware through the data
