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12/29/2014 1:55:25 PM

Crude Oil - Technical Analysis: Monday, 29/12/2014 18:55 GMT



The turning back of the negative pressure after breaking the minor ascending channel’s support, which formed a continuation bearish flag pattern.

Negative factors offered by the technical indicators; the exponential moving average 50, stochastic, and the bears’ power indicator, to support breaking 76.4% Fibonacci at 52.80.

The bearish wave is waited to extend towards 51.00 followed by 50.00.


Target
Risk


Support
Resistance


Trend Bearish

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