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- Major resistance - $35.30
- USOIL has slightly retreated till $34.17 after making a high of $35.29. It is currently trading around $34.66. Short term trend is bullish as long as support $34 holds.
- Any break below major support $34 will drag the commodity down till $33.30 (trend line joining $26.03 and $29.03) /$32.75/$32.30.
- On the higher side any break above $35.30 will take the USOIL to next level around $36.25/$38/$40.
- Short term bullish invalidation only below $31.
It is good to buy at dips around $34.60-$34.70 with SL around $34 for the TP of $36.25/$40
