Oil 6N –
49.90
As we advised before, market managed to jump above 50.20 where market managed to head toward 51.50-90 zone before retreating back below 50.00
while we advised before that below 50.00-20 market may head for farther drop toward 47.40 zone
short-run showing support at 47.40 where as long as market holding above an uptrend wave may hit the market toward 58.50 zone
below 47.40 this may be broke for rising wedge formation which may call for farther drop toward 43.00 zone
| Support | Resistence | |
| Level 1 | 49.20 | 50.90 |
| Level 2 | 47.40 | 51.90 |
| Level 3 | 46.00 | 53.80 |
