CRUDE OIL: Crude Oil price has given a breakdown of its rising trend line at 3495 levels and price has retested its breakdown trend line at 3450 levels. Channel pattern at 3520 levels on the Daily chart. Moreover, Momentum indicator RSI has remained below 50 levels on the hourly chart which suggests negative movement in the prices. For now, we expect prices to move lower towards 3450 levels in coming trading sessions.
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R2
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R1
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S1
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S2
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TREND
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CRUDEOIL
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3550
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3520
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3495
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3450
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Bearish
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