CRUDE OIL TECHNICAL ANALYSIS

Prices continue to race downward, with sellers now aiming to challenge 76.4% Fibonacci expansion at 97.30. A break below that on daily closing basis exposes a rising trend line set from June 2012, now at 96.28. Alternatively, reversal above the 61.8% level at 98.56 aims for 50% Fib at 99.58.