Oil (F) 2016-12-06
as we advised yesterday and as we see over our previous chart
Crude oil managed to retrieve strength after OPEC agreement to cut production
Short-run showing uptrend wave where support zone at 48.80-49.20
As long as market holding above this zone another uptrend wave may hit the market toward (58.00-60.00) zone
Below 48.80) more drop correction my hit Oil toward 43.20-50 zone
Support | Resistance | |
Level 1 | 51.00 | 52.60 |
Level 2 | 50.40 | 53.50 |
Level 3 | 48.80-49.20 | 55.00 |