CRUDE OIL: While the commodity may be vulnerable to the downside on correction, it continues to hold above its broken trendline presently located at the 85.92 level. A hammer candle has formed against the mentioned trendline suggesting the bulls could be preparing to take control. This could mean Crude Oil should return above the 89.47 level on ending its correction. This could trigger further upside towards the 91.25 level. Further out, resistance resides at the 92.00 level. On the downside, support comes in at 85.92 level with a violation of here forcing further declines towards the 84.66 level and then the 82.00 level. All in all, Crude Oil faces corrective pullback risks but continues to maintain above its declining trendline.
