Crude Oil Weekly Technical Outlook

Crude oil's decline extended last week and reached as low as 43.70 so far. Further fall would be seen initially this week. But we'd start to be cautious on bottoming as it approaches 42.03 low. Meanwhile, break of 46.68 will indicate short term bottoming and would bring rebound back towards 55 days EMA (now at 54.82).

from Oil N' Gold Focus http://ift.tt/1f086Uz