Trade the lowest level since June
The price of WTI crude oil futures has dropped below the $35 level and trades at the lowest level since June. The low price has extended to $34.92. The next target comes in at the 50% retracement of the 2020 trading range at $34.82.
The price yesterday stalled near the 38.2% retracement, and swing lows from September and earlier October. Today that area was broken (the range was between $36.93 and $37.11) and selling intensified (see post from yesterday here).
