WTI Crude Oil Looking Weaker to the Downside

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Crude oil prices remain weak, although price action is somewhat on a stronger note.

The commodity is slightly up 1.5% on the day. However, briefly, prices tested the 22.00 level.

But, failure to breakout above this level is keeping the downside open.

For the moment, prices have hit a bottom near 19.25. If this level fails to the downside, we expect a move even lower.

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