Crude Oil Technical Analysis – Consolidation ahead of the US NFP report ...Middle East

Fundamental OverviewIt’s been a rough week for crude oil as the price dropped more than 6% on renewed growth fears amid a couple of soft US data. The delay by OPEC+ to increase production from October didn’t spark a rally but it helped to slow down the bearish momentum.A lot now hinges on the US NFP report today as good data should trigger a relief rally, while weak figures will likely increase the bearish momentum on recessionary fears.Crude Oil Technical Analysis – Daily TimeframeOn the daily chart, we can see that crude oil broke below the recent low around the 71.60 level and extended the drop into the 69 handle. If the selloff extends further, we can expect the buyers to step in around

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