Crude Oil Futures Make A New High For Recent Move

July Crude Oil futures are trading higher by $0.20 at $49.89 in Tuesday's session. In premarket trading the contract sold off but found support at $49.44 and began to move higher. It has crossed the $50 for the third time in the last seven sessions but has yet to post a close over the key psychological level. It has made a new high for the move, surpassing the former high of $50.21, reaching $50.37, but now has fallen back under.