WTI Crude oil stayed in a narrow zone last week and it did’nt gave any breakout or any breakdown , so this week crude oil resistance would be 48.20$ once oil prices break this and close above our this weekly oil resistance then expect market to fire upto 50.50$ – 53$
If crude oil price click our weekly support of 42.80$ and close below this weekly crude oil support then expect nymex oil prices to correct upto 40.30$ – 38.50$ and even more
Weekly crude oil technical analysis conclusion : Oil trend is flat to positive for now , No major trade should be taken till it does not break our weekly support or resistance
More will update in live market hours