Crude oil trades to a new low ...Middle East

With the weaker US data, the price of crude oil has rolled over and moved to new lows going back to July. The price is currently trading at $73.25 near session lows. That's down 4.25% on the day.Looking at the daily chart, the price is entering into a swing area between $72.30 and $73.31. A move below that area would open the door for further selling. There is a lot of support from the consolidation area in May through July. The low value area reaches down to $66.85. The high that ups and downs was near $74.75. This article was written by Greg Michalowski at www.forexlive.com.

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Crude oil trades to a new low ...Middle East

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