Crude Oil Weekly Technical Outlook

Crude oil formed a temporary low after dipping to 39.19 and recovered. Some consolidations could be seen first but outlook will remain bearish as long as 44.42 support turned resistance holds. Current decline from 51.67 would target 61.8% retracement of 26.05 to 51.67 at 35.84 first and possibly to 35.24 support and below.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016080733394/