Quick Technical Overview - Crude Oil: 42.18 for bearish continuing; 69.57 for bullish reversal

Weekly price is on bearish market condition for ranging between 42.18 support level and 54.27 resistance level.

• Chinkou Span line is located to be below the price and indicating the bearish trend to be continuing.
• 'Reversal' Senkou Span line  (which is the virtual border between the primary bullish and the primary bearish on the chart) is located far above the price which makes the bullish reversal to be impossible in the near future.
• The nearest resistance level is 54.27, and the next level is 57.39. The bullish reversal level is 69.57 (the level to be crossed by the price to be reversed to the primary bullish market condition).
  
• Absolute Strength indicator is estimating the secondary ranging.
  

If W1 price will break 42.18 support level on close W1 bar so the primary bearish trend will be continuing.
If W1 price will break 54.27 resistance level on close W1 bar so the secondary market rally will be started within the primary bearish condition.
If W1 price will break 69.57 resistance level on close W1 bar so we may see the reversal of the price movement to the orimary bullish market condition.
If not so the price will be ranging between the levels.

Trend: