<p>The oil market has been a significant source of volatility this month as the uncertainty around the OPEC decision and economy dominate flows. Seasonally, October is also a weak month for crude with some believing the Mexico hedge is the reason why.</p><p>In any case, the price action today has mirrored the broader market with crude struggling. It was last down $3.44 to $85.86 after falling as lowas $85.33.</p><p>The fibonnaci 50% level from the OPEC rally is at $84.84 with the 61.8% level at $82.78.</p>
This article was written by Adam Button at forexlive.com.
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