Oil (F) 2016-09-29

as Saudi Arabia ended its flirtation with free oil markets, Crude Oil find the way to break above resistance of the downtrend line where now facing resistance of 47.75

market may head for trading zone between support 45.80-90 and resistance 47.75, where as long as market holding above 45.80 another advance to test 47.75 will be expected

above 47.75 market will face resistance at 48.45 and 49.35

below 45.80 expect another drop to re-test 44.20-50 zone

	Support	Resistence
Level 1	45.80-90	47.75
Level 2	44.20-50	48.45
Level 3	42.75	49.35