TKC-Trader
Short

USOIL SELL Idea

TVC:USOIL   CFDs on WTI Crude Oil
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3
Expecting price to reverse downwards. will be monitoring the redzone.

Comments

48.94 is the resistance on close basis. Next major support is set between 44.29-44.47. The profit target is 52.80.
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I think unfortunately you could be right. Personally I think the next two key resistance lines are 48.80 and 49.20. If crude doesn't break 49.20 in a strong fashion I think we will go back down. The other opinion is that if we don't break 48.80, we could go back down to the next key supports of 47.50 and 47.20, and if it bounces off 47.50 (i.e. doesn't break through the support) I think Crude will go to over 50. All eyes on oil from tonight!
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