On the left chart oil continue to move in a upward channel, each correction from upper channel were 12% and 14% respectively.
The current price level in 50% of the channel, if price continue to move in the channel structure, oil price may continue to trade lower.
On the right chart showing the current price swing projection, price is heading 68 in the short term.
Trader please play forward the chart to view current price movement. As price near to lower channel, seller please be cautious as reversal could be near.