TECHNICAL ANALYSIS BY NSFX 23.08.2015
Crude Oil made a pullback in area 43.96 then continued its downtrend. The validity of the medium term supply line generated at 61.15 was confirmed by 2 failed breakout. Now the commodity can slide below 40 to 37 and might test 33, a level traded back in 2008. If a rally should lift the commodity above the supply line is likely a test in area 43.96. Above this level the commodity can test 47.7.