Oil (F) 2016-11-11

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market managed to head for the first drop correction after testing resistance 45.90 as our previous modle advised

while we still holding our previous outlook

Crude Oil managed today to print above 45.10 which may be the first sign of farther advance

Market may head for another drop correction where support at 43.50 and 42.80 while as long as market holding above 42.80 another advance will be expected toward 45.90 and 47.20-50 zone

Below 42.80 more drop may affect market toward 41.10

  Support Resistence
Level 1 42.80 45.35
Level 2 41.10 45.90
Level 3 40.25 47.20-50


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