Oil (F) 2016-04-05

0 1

Oil 6K –

35.50

Market managed to fell below 36.15 support zone which activated more drop movement as Saudi Arabia refuse Output freeze without Iran

as we see over the chart, market facing several resistance levels that pushing Oil for more drop toward 34.25 zone

market resistance at 36.15 , 37.20 and 37.90 where as long as Oil holding trades below those levels the downtrend will sustain toward 34.25 and 32.35

the downtrend speed movement depend on which resistance holding the market below to resume more drop lows

  Support Resistence
Level 1 35.25 36.15
Level 2 34.25 37.20
Level 3 32.35 37.90

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