FxWirePro
Long

US OIL breaks major trend line resistance, targets $39.35/$40

FX:USOIL   Crude Oil (WTI)
178 0 5
Major support - $36.80 (200 day 4HMA)

Major resistance - $38 ( trend line joining $40.11 and $38.26)

US Oil             has taken support near 200 day 4H MA and recovered from that level. It is currently trading around $38.16.

Short term trend is slightly bullish as long as support $36.80 holds.

On the lower side minor support is around $37.60 (55 day 4H EMA ) and break below targets $37/$36.80.

Any break above $38 will take the WTI crude to next level around $38.55/$39.34/$40.

It is good to buy at dips around $38.10-$38.20 with SL around $37.55 for the TP of $39.34/$40
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