Crude Oil - Technical Analysis: Wednesday, 15/03/2017 09:10 GMT

Crude oil price attempted to break 47.95 and returned to settle above it, which indicates the price attempts to continue the decline on the short term basis, noting that RSI returns to lose its positive momentum, to support the chances of resuming the negative attempts today.

Thus, the bearish trend will remain expected, supported by the negative pressure formed by the exponential moving average 100, our next target is located at 45.18, while surpassing 49.66 will push the price to stop the current negative pressure and head to cover the recent losses.