Crude Oil Weekly Technical Outlook

Crude oil's rise from 42.20 resumed last week and reached as high as 51.80. Focus will now be on 51.93 resistance. Decisive break there will confirm resumption of whole rise from 26.05. In that case, crude oil will target next fibonacci level at 57.27. Meanwhile, break of 49.20 resistance turned support will extend the consolidation pattern from 51.67 with another fall leg.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016120433927/