Crude oil keeps the bearish bias – Technical Analysis – 23-10-2015

Crude oil price didn’t show strong actions recently, fluctuating within sideways range, with continuous negative pressure coming from the moving average 50, besides settling below 46.00 resistance, while the correctional bearish wave continues to dominate the price.

Therefore, we will keep our bearish outlook in the coming periods, targeting 44.00 support, as long as the price is stable below 46.00.