KENJICHEN

0426-USOIL Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil failed to break resistance and got huge downward pressure when reach my SL 65.70 yesterday.

Moreover, oil still have chance to recover loss made by US market, because of the trend didn't turn bad. Besides, the critical support area is around at 64.60 and Asia market just stop downward at 64.70.

So, if oil can maintain the support area, the rising opportunity will come out.

The uptrend formation didnt breakout yet, thus try long oil again around the support area for targeting $65 and more.

Support: 64.60
Resistance: 65.07 / 65.50
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