economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Down by 14.6% At today\u2019s low, the price of crude oil had decreased by $11.80 or 14.6% from the recent swing high at $80.76. On a relative basis, that put it at the low end of bearish corrections that have occurred since the April 2024 peak. There were four corrections identified since then that ranged from a decline of 14.7% to 18.3%. These measured moves indicate that the current correction may be close to completing and that crude oil may have a little more to fall before the correction is complete. Monthly Bearish Reversal Points to Lower Prices Crude oil triggered a monthly bearish reversal earlier this month (not shown) and it continues to trade near the lows of the month. This shows aggressive selling with lower monthly support in a range from around $67.11 to $66.65. Given the decisiveness of the bearish retracement, these lower price levels may yet be tested before a notable bounce. There are three more trading days before the end of February, which means that crude is at risk of ending the month in a bearish position, near the lows of the month. Nearing Key Price Levels Although the lower trendline provides a potential support line, the next lower support zone is from $67.11 to $66.86. That range is determined by two previous interim swing lows that were established late last year. They represent a more significant support area since a drop below that price range more clearly indicates a possible continuation of the larger bear trend. Since the $131.31 swing high in March 2022 crude oil has been in a downtrend with a series of lower swing highs and lower swing lows. However, a new lower swing low for the downtrend was attempted in September with a decline to $65.65. But that decline failed to fall below the earlier swing low at $63.67 from May 2023. The September support zone could be challenged if the $66.86 price area fails to hold as support. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":36562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-36561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/36561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=36561"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/36561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/36562"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=36561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=36561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=36561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}