Crude Oil Weekly Technical Outlook

Crude oil dipped further to 26.19 last week but rebounded strongly since then. A short term bottom should be formed just ahead of 100% projection of 62.58 to 37.75 from 50.92 at 26.09. Some consolidations should be seen in near term. At this point, we'd expect strong resistance from 38.9 to limit upside and bring down trend resumption.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016012332193/