Crude Oil Weekly Technical Outlook

Crude oil stayed in the consolidation pattern from 16.15 last week and outlook is unchanged. Another rise cannot be ruled out. But at this point, we'd still expect strong resistance from 38.9 to limit upside and bring down trend resumption eventually. Break of 26.054 well confirm this bearish case and target 21.98 projection level next.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016022132377/