CRUDE OIL TECHNICAL ANALYSIS
Crude oil prices continue to consolidate after reversing downward following a test resistance above the $51/bbl figure (as expected). From here, a daily close below the 23.6%Fibonacci retracement at 48.90 exposes the 38.2% level at 47.04. Alternatively, a move back above the14.6% Fibat 50.05 targets the June 9 top at 51.64.
