Oil (F) 2016-05-18

Oil 6N – new contract

48.45

the new contract managed to break above uptrend channel where market built support at 48.50 zone

as long as market holding above 48.50 will expect farther advance toward 50.50-90 zone where from there another drop correction toward 48.50-49.00 zone may hit the market

while below 48.50 market may add more drop risk where support laying at 45.50

	Support	Resistence
Level 1	48.50	49.40
Level 2	47.00	50.50-90
Level 3	45.50	52.00