Oil trades negatively, as prices approach the previous defined target at 36.05, while trading continues below SMA20 and SMA50.
Stability below 37.75 may extend the bearishness, which will be confirmed with a break below 36.05, as failure to breach it may cause correction.
Note that, risk versus reward becomes very high and we will be waiting for good entries.
Support:36.05 – 35.10 – 34.20
Resistance: 37.35 – 37.75 – 38.60
Direction: Bearish