Oil (F) 2016-01-27

Oil 6H –

30.30

Oil prices faces new drop pressure As Iran emerges from a decade of international sanctions while Saudi Aramco Says It’s Sustaining Investments in energy projects.

short run still showing downtrend pressure to re-test 28.25-75 zone where from there market will have 2 scenarios

first one that market will sustain support 27.60 intact which may drive another rebound to test 34.00 zone

second scenario that market may break below 27.60 which may drive market lower toward 25.50 zone

	Support	Resistence
Level 1	29.90	31.20
Level 2	28.25-75	32.75
Level 3	27.60	34.00-30