Crude prices kept falling in the short term, trespassing the SMA for the last 50 hours period, exposing themselves to its negative pressure, leading to more decline, breaking thereafter the neckline of a negative technical pattern that was formed previously in the short term, the Head and Shoulders pattern, as shown in the attached chart, doubling the negative pressures, combined with an influx of negative signals from relative power indicators.

Therefore we expect more losses for the crude, targeting the support of 30.30.

Trend Bearish