Forex Trading Library

Oil (F) 2016-07-28

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Oil managed to hit target of 42.30 while managed yesterday to break below in signs of more drop yet to come

as long as market holding below 43.50 the downtrend movement will sustain toward more lows where short-run now having target toward 38.00-20

above 43.50 market will face resistance at 44.50 which may drive market down again, while above 44.50 expect 46.50-95 zone

  Support Resistence
Level 1 41.00 43.50
Level 2 39.80 44.50
Level 3 38.00-20 46.50-95
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