Crude continue to consolidate below the daily descending triangle, testing the base.
Price already breaks decisively below the weekly rising wedge with the mid of BB now acting as a support.
Price is consolidating at mid of monthly BB, while BB is squeezing. Price could be consolidating at a range for a month or a couple of months more before a directional move.
Monthly support/resistance for Jul: 48.75, 48.52, 48.62, 49.06
Daily support/resistance on 18th Jul: 46.08. 45.69
Weekly support/resistance for 18th - 22nd Jul: 46.8, 45.68, 46.45, 46.08Monthly support/resistance for Jul: 48.75, 48.52, 48.62, 49.06
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