US Oil breaks major resistance at $32.75, targets $34.80
Major resistance - $32.75 (trend line joining $33.81 and $33.49)
Major support - $31.50 (trend line joining $26.03 and $29.05)
US Oil has broken major resistance $32.75 and jumped till $33.46. It is currently trading around $32.88. Short term trend is still weak as long as support $31.50 holds.
On the lower side any break below $31.50 will drag the commodity further down till $31/$30.65.The minor support is around $32.
Major resistance is around $33.50 and break above targets $33.85/$34.80 ins short term.
It is good to buy at dips around $32.65-70 with SL around $31.50 for the TP of $34.80
Major support - $31.50 (trend line joining $26.03 and $29.05)
US Oil has broken major resistance $32.75 and jumped till $33.46. It is currently trading around $32.88. Short term trend is still weak as long as support $31.50 holds.
On the lower side any break below $31.50 will drag the commodity further down till $31/$30.65.The minor support is around $32.
Major resistance is around $33.50 and break above targets $33.85/$34.80 ins short term.
It is good to buy at dips around $32.65-70 with SL around $31.50 for the TP of $34.80
