FxWirePro
Short

US Oil breaks major support at $43, good to sell on rallies

FX:USOIL   Crude Oil (WTI)
544 1 11
Major support - $43

Major resistance - $44.50

US oil             has broken major support $43 and declined till $42.56 yesterday. It is currently trading around $42.86.

Any break below $43 confirms minor trend reversal, a decline till $42/$40 is possible.

Short term trend reversal can happen only above $44.50 level. On the higher side any break above $44.50 will take the pair to next level around $45/$45.62.

Yesterday low ($42.56) will be acting as minor support and any break below targets $42/$40.

It is good to sell on rallies around $43-$43.10 with SL around $44.50 for the TP of $43/$40
Everyday great analysis! :-) Thank you!

Ps.: the TP at the and is 42/40 right?
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