Crude oil prices kept sliding in the intraday levels, breaching the pivotal support of 27.54 which we alluded to in our last reports, with the overall guidance of the main downward trend in the medium and short terms. The crude then kept trading below the SMA for the last 50 days period, combined with an influx of negative signals from relative power indicators.

Therefore we expect more tumbles for the crude, as long as it settles below 27.54, targeting thereafter the support of 26.60.

Trend Bearish