[Crude Oil]

Crude Oil still has the potential to weaken toward its nearest support level, as it is confirmed by RSI(14) being in the Neutral-Bearish area.

Key Levels

1. Resistance. 2 : 133.44

2. Resistance. 1 : 100.22

3. Pivot : 95.20

4. Support. 1 : 70.98

5. Support. 2 : 56.96

Tactical Scenario

Pressure Zone: If the price remains below 95.20, there is potential pressure toward 70.98.

Momentum Extension Bias: If 70.98 is broken, #CL has the potential to continue its decline to 56.96.

Invalidation Level / Bias Revision

The downside bias is contained if the price strengthens and breaks above 133.44.

Technical Summary

EMA(50) : 92.76

EMA(200): 86.71

RSI(14) : 48.97

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - NFIB Small Business Index - 17:00 WIB

US - ADP Weekly Employment Change - 19:15 WIB

US - Existing Home Sales - 21:00 WIB

US - API Weekly Statistical Bulletin - 03:00 WIB