Crude Oil Weekly Technical Outlook

Crude oil's rebound was limited at 49.20 and reversed, the development suggests that recent consolidation is possibly starting another falling leg. Deeper decline could be seen back to 42.20 and below. But in that case, strong support is expected around 39.19 to contain downside. Above 49.20 will target a test on 51.67/93 resistance zone.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016112733894/