WTI Crude oil prices cracked last week and it does’nt show any respite for buyers , it closed below 48$ givine another reason to worry for buyers and a happy sign for all those consumers who pay their fuel price and their fuel prices are calculated according to international market , now Crude oil need to click a major weekly support at 44.80$ to confirm another fresh round of selling upto 42$ – and 40$ and if by chance it slips below 39.80$ then will update another analysis during market hours
If crude oil price manage to click our weekly resistance ta 51.20$ and close above our weekly technical resistance then a good news for oil buyers upto 53.50$ – 56$
Crude oil analysis conclusion : Technically crude oil trend is looking weak but major movement in crudeoil since 2 weeks came on iran deal news and its following fundamentals more than technical aspects so keep an eye on all crude oil news if you are willing to trade in this black gold aka crude oil
More will update if required in live market hours