Forex Trading Library

Oil (F) 2016-08-04

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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
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