Crude oil settled at $60.42 ...Middle East

Technically, the next key target comes near the $60 level. The 50% midpoint of the move up from the April low comes in at $59.96. Just below that is the swing low from April 16 which comes in at $59.86. Move below those levels would open the door for further selling potential with the 61.8% retracement and swing low from April 10 near $58.80 as the next target.

This article was written by Greg Michalowski at www.forexlive.com.

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