Crude Oil Daily Technical Outlook
Crude oil is still bounded in sideway consolidation from 70.76 and intraday bias remains neutral for the moment. Another recovery cannot be ruled out but still, upside is expected to be limited by 61.8% retracement of 82.97 to 70.76 at 78.31 and bring resumption of fall from 82.97. Sustained trading below 70.76/71.09 support zone will confirm our bearish view that whole rebound from 64.23 is finished at 82.97 already and target another low below 64.23.
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Crude Oil Daily Technical Outlook
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