Half the gain is gone

Where have all the oil bulls gone?

Crude is down 91-cents today to $69.46 and touched $69.37 at the lows. That briefly broke the 50% retracement of the June/July rally at $69.43. The 61.8% retracement is at $68.05.

USD/CAD isn't showing much of a reaction as it chops around 1.3165.