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Crude oil tumbles to key swing level

The price of crude oil is tumbling lower. The current prices trading down $3.40 or -4.68% at $69.27. The low price just reached $69.21. Concerns about China's growth started the ball rolling to the downside fundamentally. Technicals also contributed. Looking at the hourly chart, the high price today at $73.36 took the price above the 100-hour moving average near $73.05. However, momentum could not be sustained, and the price then rotated below its 200-hour moving average (green line currently at... Read More

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Content Topics

Crude

Tumbles

Swing

Level

Forex

Posted: May 30 2023, 17:33

Author Name: forexlive

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