Oil (F) 2017-02-07
As we advised last week and as we see over our previous chart
Market managed to hold trades below resistance 114.00 where managed to add more drop pressure which led to another test for 112.10 support
Our outlook still the same where market still looking to test 111.00-30 zone, while main support zone for the short-run will consider at 110.00-111.00 zone which may provide the start for another uptrend wave
above 114.00 more advance will be expected toward 115.00 and 115.65
Support | Resistance | |
Level 1 | 52.20 | 54.30 |
Level 2 | 50.70 | 55.20 |
Level 3 | 49.80 | 56.00 |