Nymex Light Crude closed below support at $58 per barrel, signaling retracement to test medium-term support at $53. Respect of $53 would suggest an advance to $68/barrel, while failure would warn of a test of primary support at $44.
June 2020 futures broke support, at $70/barrel, suggesting a test of $50/barrel*.
* Target calculation: 70 – ( 90 – 70 ) = 50