Support and resistance levels for usoil (2016-07-31)

NYMEX:CL1!   Light Crude Oil Futures
USOIL             might rebound from here because it is coming to a potential reverse zone and bottom of the potential rising channel .
Pay attention to the resistance at 42.58 and 43.24. If they are broken, it will go up to 44.5 which is a very important resistance level on weekly chart.
If oil             rejects back from these resistances with high volume and breaks down the rising channel , it has probability going down to 38.5.
I hold the idea it will rebound next week. As to the trading advice for next week, please refer to 4h chart below.

Good luck for everyone!
Comment: Oil might go to bottom of the weekly decline channel.
sir i have labelleing wave count on daily chart if you give me opertunity to show you i will be very glad. so requied your email id if you allow
+1 Reply
zhipengcfel prasanro
You can also publish it here via link of tradingview.
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