Crude Oil futures ended a second week of declines the past week following through lower to close at 73.41 on Friday. This leaves the commodity vulnerable to the downside as we enter a new week and could target the 71.16 level, its July 06'10 low with a cut through there aiming at its Jun 07'10 low at 69.62 and then the 67.14 level, its May 25'10 low. Its weekly RSI remains bearish and pointing lower. Alternatively, on a recovery higher from its current price levels, the commodity should target the 76.71 level, its Aug 13'10 high. Further out, resistance is located at the 80.30 level, its Aug 11'10 high and then the 82.94 level, its Aug 04'10 high.
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