EliteFxAcademy

US oil has to test lower targets

TVC:USOIL   CFDs on WTI Crude Oil
US OIL is headed to sign up for new higher low swing. Strong bearish momentum might follow targets if price can break below first support at 12.12 . If price can break this level, we can expect first target to 9.74 support level .

If 9.74 support level , will not be supportive as it should be from bullish side, then we can follow second target to 7.40 support level .

Because we have to have clear minds, for both sides, market is always able to changed while we don't have any breakings. If price is able to climb up above 14.11 resistance level , then buyers has to be really powerfull to continue forward, but first their test is at 15.47 reistance level.

At the moment we are looking for very strong and potential bearish continuation to lower targets as we mentioned.

Happy trading

Elitefxacademy

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