FXHighway
Short

Crude Oil heading south

NYMEX:CL1!   Light Crude Oil Futures
315 0 2
Target: 42.00 - 40.00
Risk: 50.50

Technical Reasons:

Crude oil             price touched the recent low at 43.58, and the negative pressure coming from the exponential moving averages 50 and 100 continues, while breaking the mentioned support will push to continue the bearish trend towards 42.00 then 40.00.

The recent break to 47.80 level is a negative factor that supports achieving more decline on the short term and medium term basis.

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