As predicted early this week and as we see on our previous chart, Crude Oil failed for the second time to obtain a daily close above the resistance of 83.60.
Prices managed yesterday to meet the target at the 80.00 levels.
The market managed to keep holding above 80.00 and hit a rebound correction as expected toward 82.00.
Below 80.00 more of a drop toward 77.50 will be expected with the main support at the 76.00-50 zone.
A daily close above 83.60 could activate a further advance toward 87.20.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 80.00 | 83.60 |
| LEVEL2 | 77.50 | 85.50 |
| LEVEL3 | 76.00 | 87.20 |
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