Major support - $33.25
USOIL has recovered after making a low of $32.31. It is currently trading around $34.22.
Major resistance is around $34.70 and any break above will take the commodity to next level $36.50/$40 in short term.
On the lower side major support is around $33.25 and any break below will drag the USOIL till $32.40/$32.
Short term weakness only below $32.
It is good to buy only above $34.70 with SL around $33.24 for the TP of $36.50/$40.