Crude Oil: Blueprints 9.

Oil has consolidating for the past three weeks in a channel. Breaking out the bottom of the channel would unleash a bearish movement towards $25, with $28.66 as a primary objective.

Breaking out the Blue Trend Line would send it back towards $34.42.

A Throwback will occur, should Oil breakout the Channel.

The main trend is still bearish with $20 as a final objective.

The Daily Pivot Point is around 32.27. The daily supports levels are around 30.94 and 30.20. The daily resistance levels are around 33.01 and 34.34.