USOIL breaks major trend line resistance, targets $38.30/$40
Major support - $34.80 (resistance turned into Support)
Major resistance - $35.82 (trend line joining 560.91 and $48.25)
USOIL broken the major resistance $35.80 and jumped till $36.69. It is currently trading around $36.54.
Short term trend is still bullish as long as support $34.80 holds.
On the higher side major resistance is around $36.70 and break above targets $38.62/$41.50.
The minor support is around $35.90 and break below will drag the commodity down till $35.50/$34.80.
It is good to buy at dips around $36.50-$36.60 with SL around $35.50 for the TP of $38.30/$40
Major resistance - $35.82 (trend line joining 560.91 and $48.25)
USOIL broken the major resistance $35.80 and jumped till $36.69. It is currently trading around $36.54.
Short term trend is still bullish as long as support $34.80 holds.
On the higher side major resistance is around $36.70 and break above targets $38.62/$41.50.
The minor support is around $35.90 and break below will drag the commodity down till $35.50/$34.80.
It is good to buy at dips around $36.50-$36.60 with SL around $35.50 for the TP of $38.30/$40