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US Oil breaks major support at $43.40, targets $42.40/$41.40

  • Major Support - $43.30 (trend line joining $37.59 and $39.77)
     
  • Major resistance -$44
     
  • US Oil has broken major support $43.30 and declined till $43.09. It is currently trading around $43.11.
     
  • Any break below $43.30 will drag the commodity down till $42.40/$41.40 (200 day MA)
     
  • On the higher side any indicative break above $44 will take the commodity to next level around $45/$45.80/$46.10.

It is good to sell on rallies around $43.20-$43.25 with SL around $44 for the TP of $42.40/$41.40

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