Crude Oil Under Pressure, Approaching Important Near-Term Support

Crude remains confined within a sideways, contractionary range-bound market off of its Jan 3 high at $55.24, with key support lodged between $52.50 down to $51.25, which must contain any additional selling pressure to avert a much deeper corrective period.

Today's action certainly is shaping up to be potentially pivotal for the near-term direction of Crude Oil.

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