Crude Oil Weekly Technical Outlook

The rebound from 39.19 extended higher and the break of 44.42 resistance argues that pull back 51.67 has completed at 39.19 already. Intraday bias is back to the upside for 55 days EMA (now at 46.13) first. Firm break there will target retest of 51.67 high. On the downside, break of 41.10 minor support will turn bias to the downside for 39.19 low.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016081433425/