Oil managed to rebound again towards the target 66.15 and above.
As the tension between U.S. and Iran could return, the Oil market could face some volatility.
As we see from the chart, prices could hold this uptrend channel as long as the market holds the support of 60.00-61.00.
Intraday levels show the first support around 64.70, where as long as the market holds above it, the advance wave could continue towards the second target at 70.00.
Below 64.70 more of a drop could hit the market whilst support at 62.50 could restore the advance again.
Below 60.00 the drop pressure could return with supports at 57.00 and 55.60.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 64.70 | 67.20 |
| LEVEL2 | 62.50 | 69.15 |
| LEVEL3 | 60.90 | 70.20 |