Crude oil suffered heavy losses in the previous day and closed near the day low. The sudden bearish breakout turns the trend into bearish. Fortunately, no lower low printed on weekly basis, the price needs to move below $64.40 to print a lower low.
Meanwhile, crude oil might bounce to $67.09 – $67.91 before resume its downward movement.
Support: $65.78, $65.00, $64.40
Resistance: $70.10, $71.42, $74.40
