Oil (F) 2016-02-23

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Oil 6J – New Contract

33.15

As we see on our last Oil chart, we expected trading zone between 30.70 – 33.60 , while market managed to rebound as Oil holding trades above first support 31.80

this Head & Shoulder model will sustain as long as market holding trades below 34.20 where market will face 31.80 and 30.70 as support level before continue drop toward 29.40 and 27.50

above 34.80 this model will be corrupted while market will have chance from there to add more advance toward 37.00-50 zone

  Support Resistence
Level 1 31.80 33.80
Level 2 30.70 34.20
Level 3 29.40 34.80

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