Commodities: Oil drops

The price of WTI oil went down during the 55.00. Previous peaks are located at increasingly lower levels. The black gold reaching at 42,20 (its lowest level since november 2016).

The demand is high and the course breaks the above mentioned support. The chart below shows the nearest target, the level 47,00.

A bearish reaction at 47,00 becomes a sell signal, in line with the prevailing trend on the daily trend chart.

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