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Long

USOIL breaks major resistance $34.80, targets $40

FX:USOIL   Crude Oil (WTI)
524 0 11
Major resistance - $34.80

USOIL             has broken major resistance $34.80 and jumped till $35.11. It is currently trading around $34.77. Short term trend is bullish as long as support $33.30 ( trend line joining $26.03 and $29.03) holds.

Any break below major support will drag the commodity down till $32.75/$32.30.

On the higher side any break above $34.80 will take the USOIL             to next level around $36.25/$38/$40.

Short term bullish invalidation only below $31.

It is good to buy at dips around $34.60-$34.70 with SL around $33.30 for the TP of $36.25/$40
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