Crude oil move down to test the July low
Crude oil has seen a dip down to a low of $90.84. That’s within $0.34 of the swing low from July at $90.50. The current prices trading at $91.21. The high price today extended up to $96.55.
A move below $90.50 to take the price to the lowest level since February 25. The 61.8% retracement of the move up from the December low comes in at $88.04.
At the highs for the year, the price was up 74% from the end of year levels. The current prices up around 23% which seems like a huge result.
Inflation
This article was originally published by Forexlive.com. Read the original article here.