Sage Investment Club

Crude oil settled just below the 200 are moving average

The high for the day reached $82.22. The low extended to $79.66.

The high price yesterday reached the high price from last week near $82.66. The double top neutralize the market a bit. Moving below the 100 hour moving average with momentum in the New York session today, has given the traders an extra reason to probe more to the downside. The next target on the downside would come at $78.76 which is where the 38.2% retracement of the move up from the January 5 low.

Natural gas was the big loser today as it fell close to -$0.21 or -6.03% to $3.24.

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