CRUDE OIL TECHNICAL ANALYSIS

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to push higher as expected, with a narrow breach of the 38.2% Fibonacci retracement at 59.08 exposing the 50% level at 63.38. A further push beyond that targets the 61.8% Fib at 67.68. Negative RSI divergence wars of fading upside momentum however, hinting a turn downward may be ahead. A reversal back below 59.08 aims for the 23.6% retracement at 53.77.