Oil (F) 2015-12-23

Oil

35.79

Market is seen to have travelled sideways but slightly under the resistance levels of 35.89 with very close proximity of the target for D point at 14.35.

Market does look like it favors a trend continuing move downwards before making a corrective move upwards at D point based on the pattern shown in the charts above.

The above shown geometric pattern signals a probable fall of prices targeting the support levels marked by the red horizontal levels from 35.51 to 34.89 but once clears its way through that zone, it may gain more strength to continue to the D at the 33.65 area.

	Support	Resistence
Level 1	35.51	35.89
Level 2	35.14	36.26
Level 3	34.89	36.63