Crude oil falls 5.3%. Largest decline since September 2022
The price of WTI crude oil futures tumbled 5.3% today. That was the largest move to the downside since September 7 when the price fell -5.73%.
The low price today reached $72.79. That was just above the low of a swing area between $72.76 and $73.31 (see red numbered circles on the chart below). Move below the level going forward, and traders would start looking toward the December low and the low for 2022 at $70.10 as the next major target on the downside.
This article was originally published by Forexlive.com. Read the original article here.