30-mins Crude Oil: Short Term Bearish Momentum

Oil is showing a strong bearish momentum on the 30-mins chart, with a Death Cross MA crossover of the 20 period MA dropping below the 60 period MA. Should the price pull back, possible resistance levels could be $71.00 (38% Fib) and $71.34 (50% Fib). If these levels hold, further drop below $70 seems plausible.