R/S Lines shown MAIN LONG TERM SUPPORT BROKEN ON LOG CHART STILL YET TO BE BROKEN ON NORMAL CHART. SHOULD HAPPEN SOON. NORMAL CHART short view
Thick Black line is multi month strong resistance. If the bold line is broken expect a heavy drop, though unlikely to happen the next few days.
Red ~60% most likely Increasingly bearish but crossing over more resistance lines holds more support in the down eventual down trend. This shows some choppy trading to come.
Running out of steam. Even bulls speculating on monthly dip. Support levels are laying perfectly but the long term support that has worked so well will break down soon . Such a strong ascending wedge in ~5Mo (more recent bearish flag ~1Mo) will mirror the strength of the collapse once this breaks. Definitely don't see oil at $30/b again as the reversal appears...