At the end of trading last week we had a bounce off of support at the close 61.71, and at opening today (Asian) oil has risen from that level. If we continue to rise through the day and hold this 61.71 level it becomes critical support. The next level down is 58.7x and the next resistance is 66.3x range.
Trade carefully, there will be risk off this week with and how the central asian situation plays out. Neutral in the near term for us.
Trade carefully, there will be risk off this week with and how the central asian situation plays out. Neutral in the near term for us.
Trade active:
61.71 definately held looking or a break of 66.3 and i am back in my UCO and USO stocks