Crude Oil - Technical Analysis: Tuesday, 21/03/2017 07:11 GMT

Crude oil attempted to break 48.55 level but it finds strong support there that forces it to return to fluctuate around the neckline of the minor double top pattern, while the price still under the negative pressure formed by the exponential moving average 100, to support continuing the bearish trend on the short term basis, waiting to break 48.55 to reinforce the chances of heading towards the last bottom at 45.78.

We remind you that surpassing 50.26 barrier will stop the expected negative pressure and push the price to recover and visit levels that start at 51.64 then 53.02.