Oil (F) 2016-08-04
Oil managed to advance above first resistance 40.60 while market still facing the downtrend resistance line at 41.85 – 42.20 zone
as long as market holding trades below that zone more drop will be expected toward 38.00-20 zone
above 42.20 market may head for some advance toward 43.50 which may be able to add more advance above toward 44.90
Support | Resistence | |
Level 1 | 39.25 | 41.85-42.20 |
Level 2 | 38.00-20 | 43.50 |
Level 3 | 36.60 | 44.90 |