Oil: not convinced until $49.70 broken - BBH

Analysts at Brown Brothers Harriman explained that the December light sweet crude oil futures snapped a four-week advance, losing about 0.6% last week in mostly broad sideways trading between $50 and $52.  

"A convincing break of the $49.70 area is needed to boost confidence in our suspicion that oil is rolling over.

 The 20-day moving average is near $49.80, and the contract has not traded below that average since late-September.  

The Slow Stochastics are trending lower while the MACDs are turning down."