Oil (F) 2015-10-07

Oil (CL_5X)
49.37

Failure descending triangle, the price is failed to break triangle to downward. However, the market confirmed for breakout of that pattern and break 49 level.
Now oil price continues its bullish rally, and near critical resistance level at 49.30, breaching it will provide strong positive motive to next target at 52.50 then 56.00 and extend to 61.00, the bullish trend will be expected in the upcoming period as long as the price above 46.80 level.

	Support	Resistence
Level 1	48.50	50.50
Level 2	47.50	51.50
Level 3	45.17	52.30