Oil is making a head and shoulder pattern. 
I am of the view this will be a failed H&S pattern. This is the reason I took a long position in anticipation of this move. If this H&S pattern completes to the downside, it has a target of $10. This seems highly unlikely to me, but anything is possible.
The Nikkei 225 might make a triple top. I will go short with a weekly close below 20,000.
