Oil (F) 2016-04-27

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Oil 6M – New Contract

44.95

Market managed to hold support of 42.40 where managed to advance from there toward new high above 44.50 as we advised before

short-run showing resistance level at 45.20 where as long as market holding below this level another drop correction toward 43.00-20 zone will be expected before resuming uptrend toward 48.35 zone

while above 45.20 market may sustain advance without drop correction

  Support Resistence
Level 1 44.40 45.20
Level 2 43.00-20 46.60
Level 3 42.40 48.35

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