In most trends we see zig zags, which is why on the medium/long term I am bearish on oil, we have just come out of a sudden and dramatic fall, there is a sell the rally mentality, therefore I don't think the oil will fly off in the opposite direction , instead we will see some stability through January and upside to 62 maybe 65 but downtrend will continue in February. equities/ indices are in a bearish downtrend and oil has shown recently to be coupled with these.