Vranken

A point to watch Oil (UKOIL) with a further possible outlook

FX:UKOIL   Crude Oil (Brent)
Oil             is at a significant support level , with a breakdown, I think we should watch 30 to 20ish area.
By reversal up, i think the price of about 80 à barrel should be closely watched.

Also relate to: http://www.forbes.com/sites/energysource/2015/01/16/when-will-the-price-of-oil-hit-bottom-the-market-is-looking-at-the-wrong-number/

I will post more of my view on Oil             on lower time charts in the comments.
And thus on the 4hr chart, we seem to see more and more Bullishness, could this be the reversal point? We don't now yet, it still has to go trough the MA but Notice how the Big Yellow bars breached trough the MA and back in, this could be a reversal signal in play. Also Notice how the 100 EMA(Blue with priceline) rests on a yearly pivot point, a breach of the 100 EMA could be a good confirmation of a reversal.

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On the weekly we have a Doji, wich means indecision. So then on daily it seems to be breaching the support line to the up, we need to watch this for a confirmed breakout/breakdown.
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