Forexintelligence_NA

USOIL broke below a major support level

Short
TVC:USOIL   CFDs on WTI Crude Oil
USOIL broke below its $90 major support that held price above since the beginning of this year after OPEC agreed to a small increase in oil production following calls by the U.S. and other major consumers for more supply. We can also notice that this key support marks as the neckline of the double top. I expect price to retest the broken support and continue falling from there. I will carefully look for bearish signs at around 90-93 for selling opportunities with three targets: 83, 76, and 68.

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