Crude oil bounces off support
The price of crude oil has continued its rebound higher. The current price is trading at 19.92 that's up three dollars on the day. The high price earlier today reached $110.25. The low price extended to around $104.50.
Looking at the chart above, the recent low prices have stalled the fall between 103.821 and 105.16. The 61.8% retracement of the move up from the February 18 low is also in that area at 104.83.
On the topside watch the 50% midpoint of the same range at 109.73. Move above would be more bullish.
