Oil (F) 2016-12-09

as we advised earlier this week and as we see over our previous chart

Crude oil managed to retrieve strength after OPEC agreement to cut production

Short-run showing uptrend wave where support zone at 48.80-49.20

As long as market holding above this zone another uptrend wave may hit the market toward (58.00-60.00) zone

Below 48.80) more drop correction my hit Oil toward 43.20-50 zone

	Support	Resistance
Level 1	48.80-49.20	51.60
Level 2	47.50	52.40
Level 3	45.50	53.50