FxWirePro
Long

US OIL breaks minor resistance, targets $31.40

FX:USOIL   CFDs on Crude Oil (WTI)
687 4 13
Minor resistance - $29.10

Minor support - $28.70

US Oil             has broken minor trend line resistance , a jump till $30/$31.30 is possible .

It is good to buy at dips around $29.20 with SL around $28.70 for the TP of $30/$31.40
Would be interested to hear your thoughts on where crude goes from here. This smells like an algo-induced rally and panic short covering. Fundamentals are bearish (with Iran not wanting to freeze production levels - in fact, wanting ramp up production to pre-sanction levels). Also, today was Opex for the march contract. Today feels like stop-run frenzy - nothing more. Thoughts?
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You. Nailed. It.
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Nailed this thnx.....
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your analysis are amazing.
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