Oil (F) 2016-02-15

Oil 6H – old Contract

30.05

Market managed to jump above 29.40 while Market speculating ability of OBEC to cut production which helped Oil prices to head for rebound correction

short-run still under drop pressure while market seems heading to test resistance line around 31.80-32.00 zone

as long as market holding below 32.00 we shall see another drop to visit 28.70 and 27.00 zone

above 32.00 market will add risk for farther advance toward 33.50 – 34.50 zone

	Support	Resistence
Level 1	29.65	30.60
Level 2	28.70	3180-32.00
Level 3	27.00	33.50