Sforex

Oil : The bounce is just technical, resistance at $35

NYMEX:CL2!   LIGHT CRUDE OIL FUTURES
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Many traders were surprised the correction of oil             last week from the low $28.82 despite the fact is Iran increased the oil             production to 1 million per day.

I think in the short term, Oil             will be trade in the range between 35.5 and 28.8

Strong resistance is at $35.50, Oil             would test this resistance this week, but later it will bounce from this level and likely to $30

The imbalance between Supply and Demand is still exist , that why I think the rise of oil             is unstable.
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