Major resistance - $34.80 USOIL has broken major resistance $34.80 and jumped till $35.11. It is currently trading around $34.77. Short term trend is bullish as long as support $33.30 (trend line joining $26.03 and $29.0…
USOIL has broken major resistance $34.80 and jumped till $35.11. It is currently trading around $34.77. Short term trend is bullish as long as support $33.30 (trend line joining $26.03 and $29.03) holds.
Any break below major support will drag the commodity down till $32.75/$32.30.
On the higher side any break above $34.80 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 $33.30 for the TP of $36.25/$40
