Oil (F) 2016-05-16

May 16, 10:35 am

Oil 6M –

47.00

As we advised last week ” market managed to hit above resistance 44.50 zone where as long as market holding above 43.95 the uptrend will sustain toward 46.15 zone ” already done at market

market managed to hold our support and headed toward 46.15 where managed to break above it in sign of ability to resume uptrend toward target 48.35-75

as long as market holding above 44.00 uptrend will sustain, while below 44.00 market may head for farther drop toward 39.40

  Support Resistence
Level 1 45.60 48.35
Level 2 44.00 48.75
Level 3 43.00 49.80
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