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Jan 15

TECHNICAL ANALYSIS BY NSFX 15.01.2015

By:Nati

High:  Low: 

On the weekly chart going back we see supporting trend line connecting the lows from 1998, 2001 and 2009 which is currently being tested at the $45 level following the break below 50 dollars per barrel. Resistance could now be expected towards this level ($50) with the $56 mark beyond the next expected resistance level. $42.45 could be eyed by bearish traders.

R3
R2
R1
S1
S2
S3