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.