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Home ANALYSIS

WTI crude oil breaks Monday’s low and crashes to below $112

A.R Chowdhury by A.R Chowdhury
March 9, 2022
Reading Time: 1 min read
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WTI crude oil breaks Monday’s low and crashes to below $112

oil 10 s

Technical sellers hit oil on the break of the Monday low of $117.20 and we’re now $13 off the intraday highs today. That’s an incredible reversal and puts more downside in focus.

It’s falling very fast at the moment with a low of $111.80.

Update: Oil is falling faster than I can write and touched $103.80 at the low — that’s a $23 intraday drop and one of the largest moves of all time. You know there are problems in the global commodity market when oil goes ‘no bid’.

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A.R Chowdhury

A.R Chowdhury

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