KENJICHEN

0411-USOIL Analysis

Short
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil reveal lack of power to push up above 64.80 yesterday, then as we can see, oil try to break resistance area for 2 times but fail.

Therefore, I recommend short oil for anticipating downward below 64.00, moreover, any rebounce happening during euro market will be a opportunity to short.

Warning 64.45~64.50 to short or Reversal horizon.

Support: 63.70 / 64.05
Resistance: 64.45~64.52
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