{"id":5682,"date":"2021-03-26T08:06:00","date_gmt":"2021-03-26T08:06:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=5682"},"modified":"2021-03-26T14:52:00","modified_gmt":"2021-03-26T14:52:00","slug":"crude-oil-technical-analysis-troubled-below-57-30","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/crude-oil-technical-analysis-troubled-below-57-30\/","title":{"rendered":"Crude Oil Technical Analysis &#8211; Troubled below $57.30"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5682\" class=\"elementor elementor-5682\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-60e9b96 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"60e9b96\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-873a7e5\" data-id=\"873a7e5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-88998ad elementor-widget elementor-widget-text-editor\" data-id=\"88998ad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The oil market has been exceptionally volatile over the last few weeks as financial markets go through a series of extreme price movements as traders and investor start to position and reposition into the monthly close, and the end of the fiscal quarter.<\/p><p>All the major asset classes and financial market sectors have been undergoing similar volatility alongside <a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\" rel=\"noopener\">crude<\/a> and <a href=\"https:\/\/bit.ly\/2P5Hjy2\" target=\"_blank\" rel=\"noopener\">brent<\/a> oil this week. For example, the <a href=\"https:\/\/bit.ly\/3eIXPz1\" target=\"_blank\" rel=\"noopener\">US dollar<\/a> has been breaking higher furiously on the foreign exchange market against most major currencies, while the <a href=\"https:\/\/activtrader.activtrades.com\/account\/createaccount?setup=indeces\" target=\"_blank\" rel=\"noopener\">major indices<\/a> in the United States have been fluctuating in and out of the red.<\/p><p>The <a href=\"https:\/\/bit.ly\/3tXYrFm\" target=\"_blank\" rel=\"noopener\">VIX<\/a> CBOE volatility index, a key measure of market volatility, spiked to its highest level in two-weeks yesterday, with a 24 reading. It should be noted that the current high for the year on the VIX is a touch over 37.<\/p><p>Crude oil has recently been smacked down from the $60.00 benchmark level and is now testing back towards the current monthly price low. At current prices crude oil is down by nearly $10.00 from its monthly high.<\/p><p>Fears over an ongoing container ship blockage in the Suez canal and falling global demand due to rising COVID-19 has significantly hurt the bullish case for oil. The oil market started to show cracks last weeks after appearing rock solid around yearly highs for a number of weeks.<\/p><p>The technicals surrounding crude oil are extremely negative at the moment, and even more so if bears take-out the monthly trading low over the coming days. A bearish price pattern is warning of another $10.00 price decline.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3af23c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3af23c8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3229906\" data-id=\"3229906\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f4924bf elementor-widget elementor-widget-image\" data-id=\"f4924bf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"296\" height=\"108\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/LCrude-chart-1.png\" class=\"attachment-large size-large wp-image-5685\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-01067cb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01067cb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c6d67ca\" data-id=\"c6d67ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9effbab elementor-widget elementor-widget-text-editor\" data-id=\"9effbab\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>According to the ActiveTrader market sentiment tool some 78 percent of traders are bullish towards crude oil. Retail traders have once again been on the wrong side of the trading during the entire price drop.<\/p><p>If crowd sentiment remains at these fairly extreme levels, the bearish trend in crude oil is likely to continue at a rapid pace. Sentiment may need to neutralize in order for the recovery to be sustainable.<\/p><p><strong>Crude Oil short-term Technical Analysis<\/strong><\/p><p>The lower time frames currently show that crude oil is forming an extremely large, and complex, head and shoulders pattern. \u00a0The pattern will be activated if crude oil falls below the $57.35 level..<\/p><p>According to the overall size of the bearish pattern crude oil could fall by as much as $10.00 if the $57.35 support level is breached. The $60.00 level is currently caping advances, while a break above this level could cause a rally towards the $63.00 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6f648b2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f648b2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-57ea8d2\" data-id=\"57ea8d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e19c2a elementor-widget elementor-widget-image\" data-id=\"6e19c2a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/LCrude-4h-2.png\" class=\"attachment-large size-large wp-image-5686\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6e7cc86 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6e7cc86\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9f1164\" data-id=\"c9f1164\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea70709 elementor-widget elementor-widget-text-editor\" data-id=\"ea70709\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a2e556 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a2e556\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-04167c3\" data-id=\"04167c3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c2f5e3f elementor-widget elementor-widget-text-editor\" data-id=\"c2f5e3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Crude Oil medium-term Technical Analysis<\/strong><\/p><p>The monthly time frame shows that crude oil might be heading back towards critical trendline support, around the $52.00 level.<\/p><p>Crude oil has not tested this key trendline since it burst through it last month. It makes sense that we may see bears testing this key trendline. It could indeed be a deciding moment, especially since the trendline is now denoting the bottom of a large triangle pattern.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d9c7e88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d9c7e88\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d2bb990\" data-id=\"d2bb990\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fc1978e elementor-widget elementor-widget-image\" data-id=\"fc1978e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"342\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/LCrude-1m-3.png\" class=\"attachment-large size-large wp-image-5687\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2bf9c6d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2bf9c6d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1a32ec7\" data-id=\"1a32ec7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a2148d2 elementor-widget elementor-widget-text-editor\" data-id=\"a2148d2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3rb98T5\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The oil market has been exceptionally volatile over the last few weeks as financial markets go through a series of extreme price movements as traders and investor start to position and reposition into the monthly close, and the end of the fiscal quarter. All the major asset classes and financial market sectors have been undergoing [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5683,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,9],"tags":[58,64,277,67,169],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crude Oil Technical Analysis - Troubled below $57.30 - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/crude-oil-technical-analysis-troubled-below-57-30\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude Oil Technical Analysis - Troubled below $57.30\" \/>\n<meta property=\"og:description\" content=\"The oil market has been exceptionally volatile over the last few weeks as financial markets go through a series of extreme price movements as traders and investor start to position and reposition into the monthly close, and the end of the fiscal quarter. 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