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Short

US Oil faces strong resistance at $44.5, good to sell on rallies

FX:USOIL   Crude Oil (WTI)
313 3 8
Major intraday resistance - $44.50 (200 day HMA )

Major support- $43

US Oil             has recovered after making a low of $43.30. It is trading around $43.77.

The commodity has broken minor resistance $43.65 (Hourly Tenken –Sen) and jumped till $43.87 at the time of writing. Crude should break above $44.50
(200 HMA ) for further bullishness. Any indicative break above $44.50 will take the pair to next level till $45.32/$46.

US crude major intraday support is around $43 and any violation below $43 will drag the pair down till $42 (21 day MA) .Crude should close below $41.98 (21 day MA) for minor trend reversal. Any break below $41.98 will drag the commodity down till $40 (200 day MA).

It is good to sell on rallies around $43.85-$43.90 with SL around $44.50 for the TP of $43/$42.10
Thanks , R.R is attractive.
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