Oil rejected the pennant, as it has breached 44.85, though the main slope was a bit high. Yesterday's upper failed to cut through its EMAs, which suggest the trend to be bearish. Breaching 44.33 will send Oil south to 40.26, with 42.71 as a primary objective.
Only by breaking through its EMAs, Oil would be sent towards 46.21, which breaching will induce a rally with 51.54 as an objective.
The EMA10 is cutting the EMA20, which suggests the trend to become bearish .
Crude's daily Pivot Point is around 45.07. The daily support levels are around 44.53 and 43.67. The daily resistance levels are around 45.85 and 46.47.