February 14, 2016

CRUDE Oil weekend update

  • crude oil 4 hour chart shows head and shoulders pattern. Price has bounced back to the neck line. Now bears need to keep price below the neck line to avoid a bigger bounce. If sustains above 29.50 price may test the falling resistance line shown in 2nd chart. Till price stay inside the broadening pattern shown in 2nd chart bounces will be small and the down trend will continue.