Approaches swing low area between $80.58 to $80.78 area
The price of WTI crude oil has continued it's move to the downside and trades below the $81.00 level. The contract price is approaching a key support target at the $80.58 to $80.78 area. That area stalled falls going back to October 20, October 21, October 27 and October 28.
A move below that level would have traders looking toward the 50% midpoint of the move up from the October 7th low at $80.19.
