Forecast and Technical Analysis of Crude Oil Futures on January 14, 2016

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Analysis of crude oil futures for January 14, shows that the price again tried to break the level of S2(29.73) and again failed. The targets for the downward movement is now the levels of S2 - 29.73 and S3 - 27.33. The targets upward correction to the levels of 32.13 and 33.61, if the price remains above 29.73. Downward trend line makes the actual sell orders. Awesome indicator shows the current upward movement since the last closed bar green. OsMA also rolled up, indicating that the upward movement and the nature of the medium term. Bounce rates on the level of 29.73 could trigger a new round of corrective movement.

4-hour timeframe

Forecast and Technical Analysis of Crude Oil Futures on January 14, 2016

Trading recommendations:
Now can consider sell orders with the targets 29.73 and 27.33. Stop loss is set above the nearest resistance level. If the price rebounds from 29.73, it is the beginning of the upward correction. Orders to buy is not relevant.