themarketzone

Technical Analysis - From top to botom

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
This chart shows a complete analysis for the Crude which was part of the presentation I made for the Elite Zone members in our "World Markets Review" webinar.
You can see in the chart how the crude provided several bearish signals during the years 2012 and 2014 when it struggled with the 100-110$ resistance zone. The confirmation was given once the crude broke below the second trend line and there was no looking back afterwards.

On its dive, Crude broken down some serious support zones, the last on was the 55$-56$ zone which in the Elite Zone were monitoring for a possible reversal (that hasn't shown).

If the crude will continue its dive and reach the 43$ area, it will complete a monthly bullish Bat pattern!
I'm not sure that there will not be any pullbacks higher till it will reach that level (if it will reach there) but this is certainly an interesting zone to watch for 2015.
Special ECB preview - https://goo.gl/hZMkYY

Tomer J,
The Market Zone - You trading Edge
Visit my website - http://www.themarketzone.net/
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