Feb 26, 2020
Oil Price Analysis: WTI trades at its lowest since January 2019
- WTI is trading in 14-month lows as bears remain in control.
- The path of least resistance is to the downside with 48 and $46 a barrel as potential targets.
Crude oil daily chart
The crude oil West Texas Intermediate (WTI) is trading at 14-month low under $50 a barrel.
Crude oil four-hour chart
Black gold is trading below the 49.60 support level while below the main simple moving averages on the four-hour chart (SMAs). The path of least resistance is to the downside as the market has room to fall further towards the 48 and 46 levels.
Additional key levels