Crude Oil - Technical Analysis: Friday, 17/04/2020 07:15 GMT

Crude oil price move inside the descending channel supports the continuation of the decline on the medium term and long term basis, and the rectangle pattern that confined the recent trades reinforces the expectations of the bearish trend domination in the coming period.

Breaking 19.10 will push oil price to suffer additional strong losses that reach 17.00 then 15.00 areas, while surpassing 24.00 will allow the price to exit the bearish range and turn to rise.