Crude oil nears July low at $90.50

Crude oil drops to test July low

Crude Oil saw declines to a low of $90.84. This is within $0.34 of the July swing low at $90.50. Current prices are 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 Feb 25. The 61.8% retracement of the rise from the December low lies at $88.04.

At the high of the year, the price is up 74% from year-end levels. Current prices are up around 23%, which seems like a huge result.


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