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Crude Oil: Going South... Part 2

Crude Oil: Going South... Part 2

Crude Oil WTI NYMEX:CL1!

Oil is about to breakout the flag, which will send it south, back to 42.95, with 44.4 as a primary objective, with 46.49 as a resistance.

The flag will be rejected, should Oil head to 49.39, with 48.38 as a primary objective. The flag will be rejected once Oil breaks through 48.09.

The daily Pivot Point is 46.19. The daily support levels are around 45.45 and 44.98. The daily resistance levels are around 46.66 and 47.4.