Crude oil works back toward the key 200 day MA at $60.50
Down over $2 and -3.25%
The price of crude oil is trading at a new session low at $61.05. That is down -$2.07 or -3.28%.
A move below the natural $61.00 level, would have traders looking toward the 200 day MA at $60.50. The price tested that MA going back to May 2. On May 4th the price moved below the level only to rebound back higher (and close higher). There has not been a close below the 200 day MA since April 1.