USOIL
Oil rise hardly V pattern to recover the losses last week, then even break the downward channel.
Therefore, it may give mkt confidence of long position, even though oil present strong uptrend, we should more care about oil stand above 57.00 and test 3/5 high 57.18 in Asia time. In this scenario, oil probably will retrace at Euro market open and make sure support is enough to rise again.
In my opinion, long oil when it retrace to 56.75, which is the safe place to long, and anticipate Euro trading time can push up to challenge new high.
Watch out the reversal horizon for another opportunity to long only if oil retrace.
Support: 56.34 / 56.73
Resistance: 57.18 / 57.55