Technical Analysis: Crude Oil - Monday, Oct. 20
Crude fell below the support of 57.60, which could lead to a drop towards 55.00-30.
As we see over the Intraday chart, prices face a downtrend channel with resistance at 57.60, while support at 55.00-30 could create a trading zone.
Below 55.00 more of a drop will be expected as the market targets the 50.00-50 zone.
Above 57.60 more advance will be expected with resistance at 60.25-50.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 55.00-30 | 57.60 |
| LEVEL2 | 52.60 | 60.25-60 |
| LEVEL3 | 50.00-50 | 62.60 |
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