Slipping Under the MA-200, Bearish Oil Maybe Continues

Referring to the 4-hour chart, the bias remains bearish as long as price is below the MA-200. Consistent but still needed a break below 43.50 area to promote the sustainability of the bearish movement testing 42.65 area, before targeting 41.75 area.

On the reverse side, the MA-200 at around 44.20 will act as immediate resistance. With stochastic and RSI which looks oversold, a clear break above that area should trigger a scenario could be a bullish correction to retest 45.20 area or even 46.30 area.