Crude oil's decline continues today, reaches as low as 63.40 so far and is set to test 55 days EMA at 63.35. At this point, intraday bias remains on the downside as long as 65.90 minor resistance holds. Further fall should be seen to 38.2% retracement of 43.83 to 73.38 at 62.09 next. Break will then target key resistance turned support at 54.66. On the upside, above 65.90 will turn intraday outlook neutral and bring consolidation. But recovery should be limited well below 73.38 and bring fall resumption. Full Story
