Crude Oil Price Forecast: Fails 50-Day Breakout Again – $57.21 Under Threat

Failed 50-Day BreakoutThe 50-day average remains the defining dynamic resistance for the downtrend. Last week’s bullish breakout and daily close above it has now fully failed, producing accelerated selling and continuation of the tight falling channel that began after October’s trend high. Failed breakouts routinely trigger sharp moves in the opposite direction, and crude oil exhibited exactly that behavior across daily and weekly timeframes.Immediate Downside TargetsPrice now threatens another test of the ...