Technical Analysis: Crude Oil - Wednesday, Nov. 5
Crude dropped from the resistance of 62.60 and managed to break below the support of 60.00.
As we see from the previous chart, prices face support around 58.50, which could lead to a rebound to re-test the 62.60 resistance.
Below 58.50 more of a drop will be expected with support at 56.00.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 58.50 | 62.60 |
| LEVEL2 | 56.00 | 64.35 |
| LEVEL3 | 54.80 | 66.20 |
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