Bull Take a Rest

Brent Crude Oil price a healthy drop as we expected on 10th, Feb, 2017.

This shall be a correction of the bullish. The daily chart indicating it will have a test of 200 MA. Let's observe if it could be hold or not. We plan to enter our long position.

Bearish signal:
-10 day MA line cross down with 20 MA and 50 MA.
-Trading volume decrease (Daily, Weekly, and monthly.)
-Four days price drop.
-Stock price of major crude oil companies such as BP(BP), EXXON(XOM), Royal Dutch Shell(RDSA) are all dropping down leading crude oil price drop.
-Major commodity price index drop.

Bullish signal:
-OPEC is talking about further production cut.
-Key market Stock price going higher high. (imply: economic is turning better)
-OPEC crude oil producer and Shale oil producer sound like want to stop fighting with each other for suffering from world wide price drop for the past 2 years.