Crude oil prices extended their decline in the last intraday trading, breaking the $59.20 support under the impact of the previously formed negative pattern on the short-term chart, represented by the falling wedge. This breakdown strengthens selling pressure, especially with prices holding below the EMA50, which blocks any meaningful recovery attempts.

Negative signals are also shown on relative strength indicators despite oversold readings, confirming the continued weakness of bullish momentum and keeping sellers in control while the market awaits a clear signal indicating a new low or a deeper bearish wave.