Crude Oil on the 4 Hours Chart has been in a downtrend since 10 September 2019 when it registered the high price of 58.770. Subsequently, the price displayed a series of lower tops and lower bottoms. On 12 September 2019, Crude Oil recorded the low price of 54.012. When applying Oscillator Analysis to the price chart, one can see that price is trading below the SMA 60 period Moving Average line, a fact which confirms the Black Gold's downward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. All three technical indicators are in agreement with regards to the downward bias of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 55.156 (161.8%). The second price target is seen at 54.416 (261.8%). The third price target is projected at 53.218 (423.6%). The first and second targets were reached successfully. The presence of the Long Black Body hints at a potential rally to the downside. Its current price is 2.77% below the last week's close after a sharp decline in price during a period of heavy selling. Though the market is currently following the counter trend direction, this might just be a correction, as long-term trend remains bearish. Of course, supply and demand as well as the crowd sentiment will determine the course of Black Gold