Crude oil update

rude oil prices eased in early Asia on Mondy though remain supported on potential geopolitical flare-ups in key oil producing regions.
NYMEX crude oil prices dip in Asia though tension over Russia supportsNYMEX crude prices down in Asia
On the New York Mercantile Exchange, U.S. crude oil for delivery in September traded at $101.81 a barrel, down 0.14%, after ending last week at $101.95 a barrel.
Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in New York-traded oil futures in the week ending July 15.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for September delivery shed 0.6%, or 65 cents, to settle the week at $107.24 a barrel.
The September Brent contract advanced 0.54%, or 58 cents, on the week.
Oil spiked on Thursday following the shooting down of a Malaysia Airlines jet in eastern Ukraine, with the U.S. blaming pro-Russian separatists for the act.

Good to know that , so I will keep and eye on it for today.

Crude nears a key level, must watch this level for next week...

WTI Crude Oil confirmed a strong closing on Friday, above the top of the previous session: to confirm higher levels we need however another strong closing, possibly above 47,72!! The weekly closing was instead negative while remaining interior the previous weeks’ range!
The indicators of the daily chart are however still well positive for now as well as those of the weekly one supporting further strength. The indicators of the s/t charts are instead showing a mixed picture this morning suggesting some consolidation/ correction. While above 46,64 on an hourly closing still favour an extension of the correction toward the 200 hours line, now found at 48,41!!
I wait for higher levels to sell.

WTI Crude Oil confirmed a further weak closing also last night breaking below 44,30; this drop confirmed a double top formation above 50 supporting a new test below 40!! The weekly closing on Friday was also weak!
The indicators of the daily chart are still well negative but those of the weekly one remain above the line for now. The indicators of the s/t charts are also negative with further bullish divergences confirming the negative tone.
I expect further weakness and suggest waiting for a decent rebound to sell!