Crude Oil - Technical Analysis: Thursday, 07/07/2017 02:59 GMT

Crude oil price returned to decline clearly to test the important support 44.70, noting that breaking this level will push the price to achieve more decline on the short term basis, to extend targets towards 44.08 then 43.31.

The descending top recorded yesterday indicates that the price is on its way to achieve more decline in the coming period, noting that surpassing 46.09 then 46.40 levels will stop the expected decline and lead the price to cover some of the losses that it suffered since the beginning of this week.