Crude Closes Down .57 After Inventory Announcement

Crude Oil had another down day on Wednesday, declining sharply after the inventory report was released. You can see the sharp selloff on the 30 minute chart below. Attempts to buy up crude at discounted prices were meet with renewed selling. All the indicators on the chart are red and pointing down. As I am going on vacation Friday, I'm hoping for a tag of the 47 level tonight or tomorrow.

The Heikin Ashi chart is clearly in a down trend.

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Disclaimer: This post is for educational purposes only. Trading is at your own risk.

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Price target of 47.00 hit!