Market Watch
Mark DeCambre
Nov. 20, 2018
Oil is already in a bear market, but now a fresh, negative pattern is crystallizing in the commodity that has absolutely bludgeoned bulls over the past two months.
January West Texas Intermediate crude CLF9, -7.22% on its first full session as the front-month contract, was down a whopping 7.5%, to $52.91 a barrel on the New York Mercantile Exchange and that downtrend has propelled the U.S. benchmark to the brink of forming a death cross—a chart formation in an asset that many market technicians believe marks the point that a short-term decline morphs into a longer-term downtrend (see chart below).
More...
https://www.marketwatch.com/story/a-death-cross-is-forming-in-us-oil-underlining-the-unraveling-of-crude-prices-2018-11-20?mod=newsviewer_click
