Crude Oil bearish bias intact below 73.59 [Video]

The US Oil crashed and erased yesterday’s minor gains. Now, it was trading at 72.31 at the time of writing. The bias remains bearish despite temporary rebounds. It could only test and retest the immediate resistance levels before dropping deeper. Crude Oil tried to rebound only because the US Crude Oil Inventories came in at -5.2M versus -3.5M expected. Today, the US PPI, Core PPI, and the Prelim UoM Consumer Sentiment could have an impact.