WIT makes the break through 43.50 and could be on a quick trip through 42.00
When China cut rates last week oil went south and it hasn't picked back up since. A support area I highlighted at 43.50 has now gone and with the break confirmed we've been down to 42.72
WTI H4 chart
The next level I can see decent support coming in is around 41.75, ahead of the Jan 2015 line at 41.60 odd. From there we're in with a chance of another go at the year's low
The fundamentals for oil are still very bearish and the large inventory builds into the coldest time of the year is weighing heavily
