Oil (F) 2016-08-03

Oil (F) 2016-08-03

As we advised before , market facing 40.60 & (41.85 – 42.20) resistance levels where :

as long as market holding below one of those resistance the downtrend movement willl sustain toward 38.00-20 zone

above 42.20 market may add more bonus toward 43.50 zone

market managed to hit above 40.60 yesterday before resuming the drop movement while same resistance levels sustain on market

Support Resistence
Level 1 39.25 40.60
Level 2 38.00-20 41.85-42.20
Level 3 36.60 43.50

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