Crude Oil (Bearish)

As you see in the chart, price didn’t succeed to make a higher high in its last upside move and has been rejected and pushed to the downside by the red resistance zone.

Moreover, a bearish reversal double top pattern has been created and the neckline is broken out.

Currently, we are in a downtrend and price is fixed below the neckline and is dropping after retesting it.

I expect a drop to 75.200 for now and If price breaks the support level at 75.180 and closes a candle below this level in 1H, we can expect more fall for Crude Oil towards 72.450 and 69.750 in a long-term period.