Oil managed to hit a correction toward 79.40 before the market rebounded.
As we see from the chart, prices seem to be building a triangle formation with resistance at 86.20-50 and support at 79.50-80.
The market could hold inside this triangle before a break.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 79.50-80 | 86.20-50 |
| LEVEL2 | 76.20 | 89.80 |
| LEVEL3 | 73.60-80 | 93.00 |