Crude Oil WTI Technical Analysis: Black Gold bears create a bloodbath as WTI collapses to a new 2018 low near $57.00 a barrel

• Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average on the 4-hour chart.
• Crude oil took yet another deep dive lower as the bears remain relentless keeping the bear trend intact.  
• The next targets to the downside can be seen near 57.00 figure and 55.82 (December 7, 2017 low).  

Crude oil WTI 4-hour chart

Main Trend:              Bearish

Resistance 1:             58.07 February 9 low
Resistance 2:            59.00 figure
Resistance 3:           61.00 figure  
Resistance 4:           61.81 April 6 low
Resistance 5:           63.00 figure

Support 1:             57.00 figure
Support 2:             55.82 December 7, 2017 low
Support 3:             55.00 figure

Additional key levels at a glance: