Crude Oil Weekly Technical Outlook

Crude oil continued to gyrate in recent tight range between 44 and 50 last week and outlook is unchanged. Another rise cannot be ruled out. But still, we maintain that strong resistance would likely be seen around 50 psychological level, which coincide with 50% retracement of 62.58 to 37.75 at 50.17. We'd still favor further down trend ahead.

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