Crude Oil on the Daily Chart has been in a downtrend since 23 April 2019 when it registered the high price at 66.58. On 2 May 2019, Crude Oil recorded the low price of 60.97. Applying Oscillator Analysis on the price chart, one can notice that price is trading above the SMA 60 period Moving Average line, a fact that confirms the upward direction of Black Gold. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values above the zero line which hints to the bullish bias of the financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. The three technical indicators display mixed signals about the direction of the financial instrument. Applying the Fibonacci tool on the price chart, three price targets may be calculated. The first price target is estimated at 60.82 (161.8%). The second price target is seen at 57.26 (261.8%). The third price target is projected at 51.49 (423.6%). The Black Gold is currently trading below the downtrend line. The presence of the Long Black Body hints for a potential rally to the downside. Of course, supply and demand as well as the crowd sentiment will determine the course of Black Gold.