Crude Oil (Light Sweet) Technical Analysis: Weekly Chart

In the weekly charts, Crude Oil is trading in a down channel. Crude Oil is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 75.00 the resistance level is at 83.00

Crude Oil will trade in a down channel until there is a trend reversal.

Crude Oil (Light Sweet) Technical Analysis: Daily Chart

In the daily charts, Crude Oil is trading in a down channel. Crude Oil is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 75.00 the resistance level is at 82.10

Crude Oil will trade in a down channel until there is a trend reversal.

How to Trade Crude Oil (Light Sweet) this Week:

Crude Oil will follow the downtrend until its trend reversal. So, remain bearish on Crude Oil.

TRADE SUGGESTION- SELL AT 78.40, TAKE PROFIT AT 75.00 AND STOP LOSS AT 82.10.