Oil (F) 2016-01-29

Oil 6H –

33.25

Market failed to obtain any daily close above 34.30 as OPEC delegate said no plan for any production cut with Russia which placed market on uncertainty about such cut .

market built new resistance zone at 34.50-80 where as long as market holding below this zone the drop wave will sustain on market while first support at 32.40 and 31.40

above 34.80 market will add signals for farther advance toward 37.50-75 zone

	Support	Resistence
Level 1	32.40	34.30
Level 2	31.40	34.80
Level 3	30.15	36.00