• Major resistance - $55.25 (trend line joining $51.64 and $54.48).
   
• Major support - $53.60 (trend line joining $54.24 and $53.39).
   
• US Oil breaks minor support $54.15 and jumped sharply till $55.21 at the time of writing. It is currently trading around $55.05.
   
• On the higher side, any close above $55.25 will take the crude to next level till $55.70/$57.25 (161.8% retracement of $54.48 and $49.97).
   
• The minor support is around $53.80 (100- HMA) and any break below will drag the commodity down till $53.35 (200- H MA).
  
  It is good to buy on dips around $54.55-$54.60 with SL around $53.80 for the TP of $57.25