Crude Futures Still Rangebound

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January Crude Oil futures are trading lower by $0.53 per barrel at $43.34 in Wednesday's session. For the second day in a row, it has cleared the $43 level, reaching $43.36 on Tuesday and $43.16 in today's session. However, it has not been able to stay above that key level for very long. Excluding the low of the recent move on Monday at $40.41, the contract has been in a well-defined trading range. In eight of the last nine trading sessions it has stuck in little over a $2 range from $41.11 to $43.46.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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Posted In: FuturesTechnicalsCommoditiesMarketsTrading Ideaspremarket low
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