Oil (F) 2017-05-04

we still holding our last week outlook for the Crude oil

as we see over the chart, crude oil managed to head again to test main support line at 47.10-30 zone which if managed to hold market above another rebound correction may hit the market toward 50.00 zone

below 47.00 more drop toward 44.00 is expected

  Support Resistance
Level 1 47.10 48.20
Level 2 46.00 49.10
Level 3 44.00 51.30

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