Crude Oil Weekly Technical Outlook

Crude oil's sharp decline from 51.93 suggests that it's being rejected by 51.67 resistance. And it's now in the third leg of the consolidation pattern from 51.67. Deeper fall should be seen to 42.55 support and below. But strong support should be seen around 39.19 to bring rebound. Meanwhile, above 47.35 will turn focus back to 5.193 resistance instead.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016110633800/