Crude has more pain
Crude Oil prices on weekly chart made high of $ 41.11 in October, 1990. This high was maintained till May 2004. Prices were trading in between for around 14 years from 1990 to 2004.
In 2016, the prices after hitting the low of $26, bounced back and tried to cross the high of October, 1990 but did not succeeded.
Immediate reversal made from $26 (low of Feb, 2016) was the high of December, 2006. Presently prices are just trading above the 21 days SMA but below the 45 and 200 days SMA. If the prices on weekly chart starts trading below the 21 days SMA then once again on breaking of $34.62, big fall in prices can take place and it may touch $21.96 and $17.38 also in weeks to come.
Until the Crude prices closes above $41 on weekly chart, it will be negative.