Crude Oil Weekly Technical Outlook

Crude oil's price actions from 51.67 now suggest that it's in sideway consolidation. That is, recent up trend isn't over yet and an upside breakout is in favor. Above 51.67 will target long term fibonacci level at 57.25. We'd expect strong resistance from there to limit upside. Meanwhile, break of 45.83 support should now confirm near term reversal.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016070233227/