Crude Oil Weekly Technical Outlook

Crude oil surged to 54.51 last week but retreated sharply. Some consolidations could be seen in near term. But downside should be contained by 49.61 and bring rise resumption. Above 54.51 will target next fibonacci level at 57.27. However, break of 49.61 support will turn focus back to 44.82 and 42.20.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/crude-oil-weekly-technical-outlook-2016121733993/