Crude Oil - Technical Analysis: Wednesday, 16/08/2017 04:35 GMT

Crude oil price retested the broken support of the ascending channel and keeps its stability below it, to keep the bearish trend expected for the coming period, falling under negative pressure that we are waiting to push trades to break 47.22 level and confirm opening the door to head towards 46.23 as a next target.

Thus, the bearish trend will remain expected unless the price rallied to surpass 47.90 then 48.44 levels and settle above them.