Crude Oil - Technical Analysis: Friday, 24/03/2017 07:39 GMT

Crude oil declined again after testing 48.55 level yesterday, to keep the bearish trend dominant on the coming trades, and we believe that the door is open to visit the recently recorded bottom at 45.78.

Hence, we will wait for more decline today, noting that breaking 45.78 will extend oil price losses to reach 44.00, while surpassing 48.55 will push the price to test the most important resistance on the short term basis at 50.26.