Oil (F) 2016-01-19

Oil 6H – New contract

31.00

Oil prices faces new drop pressure As Iran emerges from a decade of international sanctions.

short-run showing resistance at 31.75 where as long as market holding below this level the downtrend may sustain for more drop lows where 28.60 and 27.60 would be target for the new contract

above 31.75 market may head for more advance toward 33.20 and 35.00

	Support	Resistence
Level 1	29.25	31.75
Level 2	28.60	33.20
Level 3	27.60	35.00