50% retracement at $41.71
WTI crude oil futures are skidding lower. They currently trade at $41.60 down $-1.31 or -3.05%. The price has move back below its 50% retracement at $41.71. The price has been trading above that dividing line over the last 7 or so trading days.
Although the price has tried to extend higher, it had trouble reaching its next key target. On the topside the contract could not extend above its 200 day moving average at $43.31 (green line in the chart above). The inability to get above that key technical level (it as not been above since February 20), could not tilt the bias more to the upside. Buyers turned to sellers.