WTI drops 8% in a day: 200-day MA at 86.80 is nextWTI CRUDE OILTVC:USOILForexupgoOil just gave back its whole late-October range in three sessions. What the daily bars show: 1. In late October WTI traded in a 99.44 to 104.99 range, with the top at 104.99. 2. The next session dropped to 96.25, and the one after held near 96.75. 3. Then came the big one: from 96.81 down to 87.13, a close at 88.05. That is about -8% in one day. 4. Price is now around 88.10, roughly 16% under the 104.99 high. Levels on the chart: - 104.99: the late-October high. Far away now. - 97.02: the 21-day average (blue). Price is well below it. - 94.85: the 50-day average (cream). That was the last support, and it broke. - 86.80: the 200-day average (dashed line). That is the next big level, just under today's 87.13 low. Plan: the 200-day near 86.80 is the line to watch. If it holds, a bounce back toward 94-95 is possible. A daily close below it opens the door to a deeper move. Charts made with Crown Pips. Software, not signals. Not financial advice.