Crude Oil to Look Toward Earnings, Housing Data, Risk Appetite Commentary: Crude oil is down slightly after finishing last week essentially flat. The commodity initially got a boost from encouraging corporate earnings announcements, but by the end of the week, as stocks fell on renewed global economic concerns, oil followed. This week prices will again take their cues from U.S. corporate earnings announcements, as well as fluctuations in the risk appetite of traders and investors. Key economic reports in the coming week are related to housing, with data on U.S. building permits out on Tuesday and existing home sales out on Thursday. Technical Outlook: Crude oil is near the bottom of a minor congestion range between $74.25 and $78.15. Prices may be carving out a symmetrical triangle, which would send prices to the channel bottom near $73.00. Below that lies $71.50 support. On the upside, $78-79 provides resistance, followed by the channel top at $81.00

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