CRUDE OIL: Loses Upside Steam, Vulnerable
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CRUDE OIL: With the commodity bearish following a reversal of its Tuesday gains to close lower on Wednesday, further weakness cannot be ruled. Support comes in at 95.63 level where a breach will bring further downside towards the 94.00 level. Further down, support lies at the 92.00 level with a breach of here leaving the risk of a return to the 91.50 level. Its daily RSI has turned lower supporting its present bearish tone. Conversely, resistance resides at the 98.85 level and then the 100.00 level where a breach will aim at the 101.50 level. Further out, resistance comes in at the 102.00 level. All in all, Crude Oil remains biased to the downside on price failure.