WtI Crude Oil price accelerated its decline at the end of last week to close out November. As we start with December trading, we can see that price has plunged below 65, and into a 5-year low. (click to enlarge)As we get near a support pivot at 58.32, which was also a common support level in 2006 and early 2007, we should start to monitor for support, especially with the monthly RSI in oversold levels. The dip in 2008 was in the heart of the credit crunch, and 2014 was a year with relatively lower financial system uncertainty, though we have all seen the global geopolitical tensions (which would traditionally give oil prices a boost). With these comparisons in mind, I think oil prices should no reach those 2009 lows, or at least go into a major consolidation first before falling there.Now, if there is a pullback, we should monitor for sellers in the previous year's support area between 80 and 90.