Crude Oil - Technical Analysis: Thursday, 23/03/2017 06:43 GMT

Crude oil returns to attempt to cover some of the recently suffered losses to trade near 48.55 level, and settling below this level keeps the negative pressure that falls on the price valid, as we are waiting to head towards the recently recorded bottom at 45.78 as a next target.

Thus, the bearish trend will remain dominant in the coming period unless the price surpassed 48.55 level clearly, as this breach will push the price to achieve more gains and attempt to return to the main bullish trend again.