Crude Oil Weekly Technical Report 22-26/9/2014

Crude is under negative pressure affected by a technical bearish pattern showing on graph above, whereas stability below 91.75 confirms extending the effect of the pattern and indicates further bearishness towards the next target 85.55. On the other hand, the price should break 90.70 to confirm easing the way towards the expected bearishness supported by Stochastic and SMA 50 and 100. Therefore, the downside move is expected by stabilizing below 93.60 and the significant 94.80 levels.