Oil Technical Analysis 19-01-18
![Oil Technical Analysis 19-01-18](https://assets.iorbex.com/blog/wp-content/uploads/2018/01/18020555/Crude-Oil-750x430.png)
As we advised last week and as we examined in our previous charts:
Crude oil managed to break above the resistance level 62.60, where the market may have a chance to sustain its gains as the next resistance lies at the 66.00-60 zone.
From that zone, should the market keep trading below the 66.60 point, there is a chance for a drop correction with the trading zone moving towards the support at 59.00.
Above the 66.60, with the daily close above this level, there may be a new uptrend wave created towards the 74.00 zone.