WTI Oil: 1D Channel Down intact. New Low expected.

The 1W Channel Up that bullish investors expected to contain the downtrend above 65.60 was violently crossed to the downside (STOCHRSI = 0.000, Williams = -97.427) with Highs/Lows and B/BP turning negative (-4.3279 and -9.4580 respectively). Only 1M supports now but this is within 58.20 - 60.20. We expect that the 1D Channel Down (RSI = 25.770, MACD = -1.970), though oversold (STOCH, STOCHRSI, Williams), will extend to that support as part of its Lower Low. Our TP is 60.20.