CRUDE OIL: Medium Term Outlook Remains Lower

[FXTechstrategy.com]

CRUDE OIL: The pair continues to hold on to its downside pressure following a lower close the past week. On the downside, support resides at the 43.00 level where a break will expose  the 42.00 level. A cut through here will set  the stage for a run at the 41.00 level. Further down, support resides at the 40.00  level. On the upside, resistance resides at  the 44.00 level. Further out, resistance  comes in at the 45.00 level. A break above  here will aim at the 51.00 level and then  the 46.00 level followed by the 47.00 level.  All in all, CRUDE OIL remains biased to  the downside medium term.