Oil traded just below 43.65 for the first time since September 10 alongside bearish signs on technical indicators.
We need a breakout below this level to affirm the bearishness, while RSI14 shows oversold case, but ADX suggests further debasement.
The main support resides at 41.00, with lack of support between current trading levels and 41.00; thus, the bearish wave could be strong.
Support: 44.00 – 44.50 – 43.60
Resistance: 43.00 – 42.30 – 41.00
Direction: Bearish