Oil (F) 2016-02-19

Posted on

Oil 6J – New Contract

31.48

Oil back to drop pressure as Global supply still exceeding demand where first support laying at 30.70

from 30.70 market may head for another rebound correction toward 33.60 before resuming the drop movement toward 27.60 , while below 30.70 market may sustain drop without any rebound correction

as long as market sustain trades below resistance 34.50-80 the downtrend outlook will sustain, above 34.80 market may head for farther advance toward 37.00

  Support Resistence
Level 1 30.70 33.60
Level 2 29.40 34.10
Level 3 27.60 34.80
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