# Five Charts That Explain Crude Oil's Sudden Nosedive Toward $45 - Bloomberg

> WTI crude broke through its 200-day moving average and several technical support levels, including a Fibonacci retracement and the year's low. Traders and funds liquidated positions as the break accelerated the decline toward $45.

- Date: 2017-05-05 · published 2017-05-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11191-five-charts-that-explain-crude-oil-s-sudden-nosedive-toward-45-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Technical selling amplifies moves in crude without new fundamental cause, adding volatility to energy costs that feed into commodity logistics and biofuel margins.

## Read by commodity

- WTI: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-05-05/five-charts-that-explain-crude-oil-s-sudden-nosedive-toward-45

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.