Crude oil cracked some key support form 2019

Crude oil broke below the $51 level as this was key support through 2019. Even though the RSI is oversold, the risk of a move to the $47 level which is the 127% extension of the fall move higher would be the near term target. Below there, the target is the lows forged at the end of 2018 near the $42 level which is also the 161% golden Fibonacci ratio!