Crude Oil And Negative Pressure Persist

US crude oil futures prices succeeded in touching the first target required to be achieved during the previous analysis, located at a price of 64.00, to record its lowest level at 63.93.

Technically, the price stability below the pivotal resistance at 65.65 supports the continuation of the bearish tendency, and this comes in conjunction with negative signals coming from the RSI on short time frames.

Consequently, we will maintain our negative outlook targeting 64.00, and then 63.20 next stop. Trading and stabilizing the price above 65.65 negates the implementation of the bearish scenario completely and leads oil prices to achieve gains that start at 66.45 and may extend later to visit 67.10.

S1: 64.00	R1: 65.65
S2: 63.15	R2: 66.45
S3: 62.30	R3: 67.30