Oil (F) 2016-08-05
As we see over our previous chart, we advised that resistance zone of (41.85-42.20) is still holding the downtrend pressure where as long as market holding below this zone more drop will be expected toward short-run target (38.00-20)
above 42.20 market may activate bigger rebound correction toward 44.40 while market will face another resistance at 43.50
Support | Resistence | |
Level 1 | 39.25 | 41.85-42.20 |
Level 2 | 38.00-20 | 43.50 |
Level 3 | 36.60 | 44.90 |