Oil (F) 2016-05-19
![](https://assets.iorbex.com/blog/wp-content/uploads/2016/05/18100513/786d370d5a2edd827e76b6ace6ea4e75585a9c3f-750x430.png)
Oil 6N – new contract
47.75
market retreat below 48.50 in signs of more drop correction may come over the short-run
as long as market holding below resistance 48.50-70 will expect farther drop correction toward 45.50 zone
above 49.50 market may sustain advance to test 50.50-90 zone
Support | Resistence | |
Level 1 | 47.00 | 48.50-70 |
Level 2 | 46.20 | 49.50 |
Level 3 | 45.50 | 50.50-90 |