FxWirePro: US Oil downside capped by 161.8% retracement, good to buy above trend line

• Major support - $42.83 (161.8% retracement of  $44.40 and $46.94).
   
• Major resistance - $45
   
• Pattern formed- Bullish Divergence (RSI(14)
   
• Us Oil has made a low of $42.95 and slightly recovered from that level. It is currently trading around $43.16.
   
• The major support is at $42.85 and any break below targets $42.30/$42 in the short term.
   
• On the higher side ,minor resistance is $43.25 and any violation above $43.25 will take the oil to next level till $43.85/$44.

It is good to buy above $43.25 with SL around $42.83 for the TP of $43.85/$44