Crude oil futures settled at $66.52 ...Middle East

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Technically, looking at the hourly chart, the high price today stalled near the underside of the broken trendline (bearish). The next target on the downside comes against the 61.8% retracement of the move up from the June low to the July high. That level comes in at $66.13.

Moving below that level and the swing low from July 7 at $65.51 would be targeted.

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

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