Oil (F) 2016-02-24

Oil 6J – New Contract

30.95

As we see on our last Oil chart, we expected trading zone between 30.70 – 33.60 , where Oil managed to obtain trading zone before heading today to try to test 30.65 support level

this Head & Shoulder model will sustain as long as market holding trades below 34.20 where market facing 30.65 support before continue drop toward 29.40 and 27.50

above 34.80 this model will be corrupted while market will have chance from there to add more advance toward 37.00-50 zone

intraday resistance levels at 31.50 , 32.60 , as long as market holding trades below 32.60 expect market to succeed with breaking below 30.65

	Support	Resistence
Level 1	30.65	31.50
Level 2	29.40	32.60
Level 3	27.55	33.60