The Bigger Picture for Oil (News is a Factor)

This huge downward channel on the Monthly should offer great opportunities and entries when presented ! More importantly I wanted to point out the similarities between the previous range, and the one forming now... Could play out very similar and give good indication to PA... Based off this, I would target the level marked at 49. HOWEVER !!!, most importantly, with the RECENT NEWS, I will probably close my short at market open and let it run it's course. Definitely will be waiting to grab another "short" when we reach top of channel ! <--- Best Option !

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Obviously the "short-term" target is null and we wait for top of trendline test, with confirmation ! The "news" destroyed any technical strategy... Fucking terrorists suck !

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Would be my new idea to go long due to news ! Don't think it will happen soon, but still will be waiting for the short as posted above at monthly trendline...