Crude Oil - Technical Analysis: Monday, 05/06/2017 07:34 GMT

Crude oil price retested 48.06 level that turns into resistance after breaking it previously and returns to decline, as the price moves inside descending channel that supports the continuation of the bearish trend in the coming period, which its next target targets located at 47.13 then 46.00.

Thus, the decline will remain expected unless the price rallied to surpass 49.00 level and settle with a daily close above it.