Crude Futures Revisit $38

Crude futures are trading lower by $1.37 at $38.02 in Tuesday's session. In after-hours trading, the contract found resistance just above Monday's close ($39.39), reaching $39.48 before turning lower. The ensuing decline has taken the contract under $38, reaching $37.91 and is attempting to remain in the $38 handle. If the decline continues the next daily support level does not come in until its March 15 low ($37.42).