Crude Oil Weekly Technical Outlook

The sideway consolidation from 62.58 extended further and outlook is unchanged. While another fall cannot be ruled out, downside attempts should be contained by 38.2% retracement of 42.03 to 62.58 at 54.73. Rise from 42.03 is expected to resume later and break of 62.58 will target 38.2% retracement of 107.73 to 42.03 at 67.13 next.

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