Crude Loses Key Technical Support As BNP Sees Oil “Revisiting The Year’s Lows”

Monday, April 4, 2016
By Paul Martin

by Tyler Durden

The early exuberance in oil has faded today as WTI tumble to fresh one-month lows, crucially losing the key 40-week moving average once again as the downtrend looks set to continue. With BNP Paribas warning that WTI is set to revisit the lows of the year, the time for redeterminations looms large over a sector that has been bid up once again on hope that this time it’s different.

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