Oil (F) 2017-08-21

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Crude Oil managed to rebound above 48.35 which may add more advance to test 49.50-75 zone as we advised last week

from 49.50-75 market may face the downtrend pressure again , while above 49.75 market may sustain advance toward 51.10-30 zone

below 47.40 more drop to retest 46.50-60 may hit the market, while below 46.50 more drop will be expected

  Support Resistance
Level 1 47.40 49.50-75
Level 2 46.50 51.30
Level 3 45.40-60 53.00
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