US CRUDE OIL (WTI): Bearish Outlook Explained

The USOIL price dropped below a strong horizontal support level last week and closed below it.

After breaking this support, upon retesting the broken structure, the market started to consolidate.

A bearish breakout of the consolidation range's support area confirms a strong bearish trend, increasing the likelihood of a continued decline.

The target price is set at 67.20.