Brent Oil doesn't seem to slow down in it's down-slide

The bad news is that even a strong support (2008 support line indicated in green band on the chart) did not slow down the oil drop. The good news is that we are reaching the end of a 1-5 minute wave formation and the physiological 30$ level. Will Oil bounce back from there? Who knows. We'll keep on watching the waves and strong bullish signs in order to make some judgement.