Non-OPEC countries supply is going to be stronger than demand. The price will go further below 2880 and break 2800. It may touch 2700 most probably.
The weakness of the Oil has outpaced the declines in the nearest prices. Some of the world’s biggest banks are also predicting the Oil price further down. Over all pressure on the Crude is down trend. Positional traders can go with shorting near by. Intraday Traders are have to be very cautious and try to go with SELL at day High. It will happened in the evening mostly. Trade only on that time
Weekly Resistance(Upward Trend) for the Crude : 2950/3100
Weekly Support(Downward Trend for the Crude: 2800/2680