Crude Oil Weekly Technical Outlook

Crude oil's fall from 51.93 continued last week as expected and outlook is unchanged. Such decline is seen as 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-2016111233831/