Oil (F) 2016-09-06

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As we see over our previous chart

market managed to head for rebound correction toward 46.50 after speculations that OPEC will make significant announcement which may lead for production freeze

however, we advised last week that main resistance level still at 46.60 where as long as market holding below this level another drop wave will be available toward 42.00-20 zone and 41.00 target

uptrend risk will rise if market jumped above 46.60 where prices will face resistance at 47.35 and 48.45

  Support Resistence
Level 1 44.05 46.60
Level 2 43.00 47.35
Level 3 42.00-20 48.45


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