The price of WTI crude oil futures are sharply lower and in the process has broken below its 200 are moving average at $79.52. However there is additional support between $79.07 and $79.24 (swing area and also the 38.2% retracement of the move-up from the July 17 low).
What next and why?
The video will review the technicals and play and explain why.
![Crude oil](https://images.forexlive.com/images/Crude%20oil_id_c371cb34-9029-4a2d-926f-06691d26cd08_original.jpg)
Crude oil trades above and below the 200 hour moving average