Crude oil falls back below $83 after touching a nine-month high

<p>WTI crude oil is threatening an outside bearish reversal after touching a fresh 9-month high and then slumping below yesterday's low of $82.67.</p><p>So far, it's back above that level but it may be a close call by the time of the end of electronic trading, given the poor tone in risk assets at the moment and broad USD strength.</p><p>Equally important will be tomorrow's weekly close as a finish above the April high of $83.53 will be important. Finally, oil would need to finish above $82.82 to extend the weekly streak of gains to 6.</p>

This article was written by Adam Button at www.forexlive.com.