Crude futures target $32/barrel

Crude futures (Light Crude March 2016 – CLH2016) are consolidating in a narrow band below the former support level at $45/barrel. Breach of $43 is likely and would indicate a test of the August low at $41.20. Follow-through below $41 would warn of another decline, with a target of $32/barrel*.

WTI Light Crude March 2016 Futures

* Target calculation: 42 – ( 52 – 42 ) = 32

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