Oil Technical Analysis 22-01-18
![Oil Technical Analysis 22-01-18](https://assets.iorbex.com/blog/wp-content/uploads/2018/01/18015807/Oil-750x430.png)
As we advised last week and as we can see from our previous chart; Crude oil managed to break above the resistance level of 62.60. Here the market may have a chance to sustain any advances made as the next resistance level lies at the 66.00-60 zone.
From that zone and as long as market keeps trading below the 66.60 point, there is a chance for a drop correction with the trading zone shifting towards the support point of 59.00.
Above the 66.60 point, should the day close above this level, the market may experience a new uptrend wave towards the 74.00 zone.