Oil (F) 2017-11-02
As we advised yesterday and as we see over our previous chart
Crude Oil managed to hit target 55.00-20 as we advised before
Market now having chance for some drop correction as long as market holding trades below 55.20 where a retreate may hit market toward 53.60 befor advance resume ( market managed to hit 53.97 yesterday)
Above 55.20 market may enter new uptrend wave that may target 59.60 zone
Below 53.60 more drop is expected with another support at 52.80
Support | Resistance | |
Level 1 | 53.60 | 55.00-20 |
Level 2 | 52.80 | 56.50 |
Level 3 | 51.50 | 58.00 |