Forex Trading Library

Oil (F) 2017-05-11

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Crude Oil managed to rebound above 47.00-30 resistance zone which may activate farther advance toward 52.50 over Short-Run

as long as market holding above 47.00 more advance toward 51.35 and 52.50 will be expected

below 47.00 market may head for another drop movement which if managed o hold market above 43.75 another advance toward 51.35 from there will be available

below 43.75 the downtrend wave will resume over market

  Support Resistance
Level 1 47.00-30 48.25
Level 2 45.50 50.15
Level 3 43.75 51.35
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