Crude Lowdown

How low is lower? Thus far the sideways action over the last 24 hr.s does not look encouraging for the bulls. The good news is it's looking a tad oversold very short term.

Hourly

click to enlarge

Note the pos divergence on the RSI.

As I type this it dropped lower.

Daily

Note the Fib support at around the 60 point. So considering how oversold it is here perhaps a little consolidation prior to testing that 60? Jack be nimble.

For longer term view see the previous posts.