FxWirePro
Long

US Oil breaks major resistance $47, good to buy at dips

FX:USOIL   Crude Oil (WTI)
417 2 7
Major support - $45.40 (7 day EMA )

US Oil             has broken major resistance $47 and jumped till $47.16. It is currently trading around $47.14.

Short term trend is bullish as long as support $45.40 holds.

Any break below $45.40 will drag the commodity down till $45 (daily Tenken-Sen)/ $44.05 (21 day MA).

On the higher side break above $47 will take the US oil             till $47.87/$49.20.

Overall bullish invalidation only below $43.

It is good to buy at dips around $47 with SL around $45.40 for the TP of 49.35/$50.
Thank you for your view on crude.
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