Oil (F) 2018-10-16

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As we see over our previous chart and as we advised yesterday

Market managed to test resistance zone 72.70-80 yesterday where managed to head from there to another dip inside our trading zone

Market still facing main resistance level at 72.70-80 where as long as market holding the daily close below this level the downtrend pressure will extend for more drop

A daily close above 72.80 may activate farther advance toward 75.25

  Support Resistance
Level 1 71.00 72.70-80
Level 2 70.40 75.25
Level 3 69.50 76.40


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