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Crude Oil






3/28/2017 1:43:21 AM

Crude Oil - Technical Analysis: Tuesday, 28/03/2017 05:43 GMT



Crude oil retests the bearish pennant's support line that was broken previously to turn into resistance now at 48.00, as the negative pressure of this pattern still valid, and we are waiting the continuation of the bearish trend in the coming period to head towards our next target at 45.78.

RSI shows gradual loss to the positive momentum to support the expected decline, noting that the price stability below 48.55 represents the first condition to continue the bearish trend, as surpassing this level will stop the current decline and lead the price to visit 50.26 direct.


Target
Risk


Support
Resistance


Trend Bearish

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