Oil trades within a sideways range after clearing the bearish channel, while moving below moving averages offers bearish setup and RSI trading below 50.00 levels, which is negative factor.
ADX bullish signal becomes weaker; thus, we need a confirmed break below 36.05 as far as 37.75 holds to be bearish.
Support: 36.60 – 36.05 – 35.50
Resistance: 37.35 – 37.75 – 38.00
Direction: Bearish below 36.05