WTI crude oil falls to 21-year low

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Crude oil prices are down over 42% intraday basis.

The declines come amid a sell-off that started in the Asian trading session.

Price action is now trading below the lower support area of 11.86.

The current momentum will likely see prices falling even lower.

Any rebound in the near term could, however, signal new sellers into the market, putting downside pressure further on the commodity.

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