This is part one (1) of two analyses. This is of course on daily basis. You should pay attention to the number 2 on indicator and on graph. The price where took a lower low but MACD took a higher low. A positive divergens.
What to expect? Saudi Arabia will only free oil production if Iran joins. This fundamental news puts pressure on oil. It is likely we will see a rebound on prices of 32-33 USD/per barrel.