KENJICHEN

0409-USOIL Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil rose hardly and maintain strong momentum to goal $65, however, it is not easy to break 65 level for first time.

As we can observe, oil try to challenge new high, which is around at resistance area close to $65. Euro market can't have enough power to conquer the pressure, but it still have chance in US market, so long as oil maintain above 64.00, oil would rise again.

Therefore, we should better try long position first at Reversal horizon or 64.00.

Support: 64.00 / 64.30
Resistance: 64.80 / 65.00
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