NYMEX crude oil prices fall below critical $60 support level

News flash.

NYMEX crude oil prices just fell below the critical $60 support level, currently at $59.78 at the point of writing. That was not much of a rebound, was it? Oil prices are now headed toward the 50-dma level, which currently stands at $56.92. If broken on the downside, the Golden Cross theory could be invalidated.

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