A few weeks ago, before starting October, crude oil was sitting back at its 2014 lows of 9124, after rallying up to 10768, only to fail the retest of the 2013 summer highs. This failure, and upside down U turn, led to a small consolidation period as short covering and new buyers materialized to put in a tug of war. The 2014 reversal of 9124-10768 has a 1644 range. Taking this range and subtracting it from 9124, this gives downside objective of 7480 to complete the expansion. This takes place as the market made a technical reversal for the year of 2014 and failed to hold 91, seeing a flush, and expansion of the 2014 range, in the opposite direction. First level of major support is seen at 8090 with sell stops under 7728 to complete 7480 objective. Short term this support level offers an area for shorts to cover and buyers to look to defend, for a move back to retest 84-88 resistance, up to 91. Failure to hold 7728 gives way to complete 7480 expansion target, which takes out the 2011 7495 low.