As per Weekly Chart Crude oil took support around $50 where from where it took breakout in the month of July. If crude oil sustain above this level can bounce back up to $55.
As after sharp selloff momentum indicator like RSI also moved to over sold region.Closing below $50 can open new downside.
As after sharp selloff momentum indicator like RSI also moved to over sold region.Closing below $50 can open new downside.