Daily Crude Oil Chart

We are seeing a real period of consolidation on the daily chart, and with the exception of Aug 21 and 22 we are stuck in a range around the 144 EMA.

It will be interesting to see what happens on the downside if the $111.50 low of Aug 15 is breached.

That would be pushing crude down to prices not seen since May.

Daily NYMEX Light Sweet Crude Oil Chart

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