Technical analysis of Crude Oil on December 30, 2015


Analysis of crude oil as of December 30 shows that the price of oil is again trying to resume a downtrend, fixed below the support level of S1. The targets for the downward movement is now the levels of S2 - 35.86 and S3 - 34.20, if the price remains below the level of 37.53. The targets for a new round of upward correction are the levels of 38.55 and 40.22, if the price consolidates above 37.53. Downward trend line makes the actual sell orders and trading support for a fall. Awesome indicator shows the current downward movement since the last closed bar is red. OsMA also pointing down, indicating that the downward motion of the character and in the medium term.

4-hour timeframe

Technical analysis of Crude Oil on December 30, 2015

Trading recommendations:

Now we can consider sell orders with the targets 35.86 and 34.20. Stop loss is set above the nearest resistance level. If the price rebounds from 35.86 and to consolidate above 37.53, it will witness the resumption of the correction, as well as turn up or OsMA Awesome. Contracts for the buy of oil is not relevant.