This is a trend line started from 1972 in the weekly chart. if you go to that chart you will see why i ended up here.Wiith that being said FIB CHANNEL brought us to this. If the indicators hold true, we should see a continuation of the downward trend staying bearish. If oil breaks back up in price we could see a very lengthy bearish run lasting a year or more. That takes us back to the weekly chart and a bottom of 1.0600 Good luck i have never cheered on oil before, but i am shorting this pair for at least though the summer.1.4690 thur 1.0600= 4000 pip drop