Failure to defend the defend the August low ($85.73) may lead to a further decline in the price of oil as it extends the series of lower highs and lows from earlier this week.
The price of oil may continue to give back the advance from the monthly low ($85.73) as it appears to be reversing course after testing the 50-Day SMA ($96.34).
Crude Oil Price to Stage Larger Recovery on Break of August Opening Range dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
Crude Oil Price Halts Three Day Selloff as US Crude Inventories Contract dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.