KENJICHEN

0401-USOIL Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil close relative high position in the end of March, thus it is continuing strong for 3 months and may have wash-dish pattern in the beginning of April.

Although, $60 level is critical mental pivot point to market, so once oil can stand above 60.00 the uptrend will go challenge $61.

In daily trade, we should more careful about the pressure besides 60.71, therefore, it may have chance to recheck 60.00 is reliable or not.

However, we should follow the trend doing long position first, if oil retracemeng happened 60.08 support will be a good place to long.

Support: 59.74 / 60.08
Resistance: 60.71 / 61.23
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