Oil (F) 2016-05-19

May 19, 11:34 am

Oil 6N – new contract

47.75

market retreat below 48.50 in signs of more drop correction may come over the short-run

as long as market holding below resistance 48.50-70 will expect farther drop correction toward 45.50 zone

above 49.50 market may sustain advance to test 50.50-90 zone

  Support Resistence
Level 1 47.00 48.50-70
Level 2 46.20 49.50
Level 3 45.50 50.50-90
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