FxWirePro
Long

U.S Oil trades above major resistance $29.05, targets $31.50

FX:USOIL   Crude Oil (WTI)
430 0 4
Major resistance - $29.05 (7 day EMA )

Major support - $28.20

US oil             has closed above $29.05 on Friday and jumped till $29.63. It is currently trading above $29.40.

Short term trend is bullish as long as support $28.20 holds. Any break below $28.20 will drag the pair till $27.40/$26.80.

Overall bearish invalidation can happen only above $31.90 ( trend line joining $34.79 and $33.57)

It is good to buy at dips around $29.30-$29.35 with SL around $28.20 for the TP of $31.50
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