Crude Oil WTI Technical Analysis: Black Gold turning into Red Gold as WTI falls below $60.00 a barrel and collapses 22% in a month

Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average on the 4-hour chart as the barrel of oil is having the longest losing streak since 1984.
Bears assaulted the commodity one more time and brought WTI below $60.00 this Friday. While WTI is oversold small pullbacks up can be expected however the trend remains firmly bearish.
Targets to the downside can be seen near 58.07 and 57.00 figure.

Crude oil WTI 4-hour chart

Main Trend: Bearish

Resistance 1: 61.00 figure
Resistance 2: 61.81 April 6 low
Resistance 3: 63.00 figure
Resistance 4: 63.59 June 18 low
Resistance 5: 64.00 figure

Support 1: 59.95 March 8 low
Support 2: 58.07 February 9 low
Support 3: 57.00 figure
Support 4: 55.82 December 7, 2017

Additional key levels at a glance:

WTI

Overview:
    Last Price: 59.88
    Daily change: -82 pips
    Daily change: -1.35%
    Daily Open: 60.7
Trends:
    Daily SMA20: 65.81
    Daily SMA50: 69.59
    Daily SMA100: 68.87
    Daily SMA200: 68.52
Levels:
    Daily High: 60.76
    Daily Low: 60.66
    Weekly High: 67.73
    Weekly Low: 62.61
    Monthly High: 76.25
    Monthly Low: 64.86
    Daily Fibonacci 38.2%: 60.7
    Daily Fibonacci 61.8%: 60.72
    Daily Pivot Point S1: 60.65
    Daily Pivot Point S2: 60.61
    Daily Pivot Point S3: 60.55
    Daily Pivot Point R1: 60.75
    Daily Pivot Point R2: 60.81
    Daily Pivot Point R3: 60.85

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