Crude Oil amid negative outlooks – Technical Analysis – 06-11-2015

Crude Oil price continued to decline affected by breaking the rising wedge’s support line, to break 45.65 support level that represents the first target of the mentioned pattern, settling below this level to add more negative pressures on the coming trading, accompanied by forming negative divergence on stochastic.

Therefore, we expect more rise for oil price as long as 45.65 resistance remains intact, targeting 44.35 support as a full target of the rising wedge pattern.