Crude oil falls below its 100/200 hour movinng averages
The price of crude oil has tumbled lower over the last few hours, and in the process has pushed back below its 100 hour moving average at $92.59 and 200 hour moving average and $91.60. The low price reached $90.94. Yesterday the low price reached $90.65 before snapping back higher into the close and into the new trading day today.
the high price today reached up near $95. That was also near the swing high going back to February 13. the inability to move above those levels and approach the seven year high from Monday's trade at $95.79, gave the sellers the opportunity to lean and may have also been able to push back to the downside.
Going forward get below the $90.65 and the door opens for further downside probing.