Likely, the price's drawing Head'n'shoulders pattern. A drop below 7500 opens way to lower lows.
Next support @43...40 area. A recent drop below 49 opened way to lower lows, even to 35 in extension. Trading strategy: short @ bounce.
The oil price turns to the downside. Targeting to 56 ant 50 in extension.
A return to the 8000 high opens way to higher highs. If the support @6000 area fails, a weaker support @5000 expected.
Bounce from support @8000 area expected. A drop below 8000 would be the sign of bulls weakness and move to the downside may be extended.
Drop below 9100 opens way to the 8800, 8500, 8100 lows. Only overcome of resistance @9500 opens way to the higher higs.
The breakup to 10500 indicates a new bulls wave. Longs at fib retrace levels 38 & 62 (9500 & 8500 areas).
Likely, the 3rd attempt to move over 3000 failed.
Checking the support @9500 strength. Again and again.
Price retraced to the fib 0.618 resistance zone 14000-15000. A move down expected. First move may exceed fib 0.382 Long @9000, 7000...6500
Temporary mood improvement is coming to an end.
Similar to the start of the third wave with the Elliott pattern 12345.
Swing in the triangle: breakdown to 3800 opens the way to 3400, breakup to 4100 open door to new highs - 4400 and so on. Likely, the bears are still a bit stronger?
Resistance in the 57 and 59...60 areas.
The trend is slowly turning down. First target @2450 (and 2200 in extension?)
The confluence of supports is in the range between 3000 and 2000. The fall also can reach 1800.