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  • 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