Oil Price Analysis: WTI trades at its lowest since January 2019

FX Street

Updated: 26 Feb. 2020 | 19:37

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

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