Is more pain set to come for oil? - ConsultFX

Is more pain set to come for oil?

The signs are not looking good ForexLive WTI crude is trading down by more than 8% in July so far, with yesterday's drop taking out the $70 handle. The fall stalled just around the 61.8 retracement level @ $68.05 but the downside move appears to be continuing today - with the 100-day MA (red line) @ $67.07