Quick Technical Overview - Crude Oil: bear market rally to be started

Weekly price is on bearish market condition with below of 100-period SMA (100 SMA) and 200-period SMA (200 SMA):

• the price is trying to cross 54.27 key resistance level from below to above for the bear market rally to be started;
• if the price breaks 54.27 key resistance so the next targets will be 69.57 and 107.92.
  
• Nearest support levels are 46.22 and 42.18;
• Nearest resistance levels are 54.27 and 69.57.

• if weekly price breaks 54.27 resistance so we may see the secondary rally within the primary bearish market condition;
  
• if weekly price breaks 42.18 support level so the primary bearish will be continuing without ranging up to the new 'bottom' to be forming;
  
• if not so the price will be moved within the levels.