USOIL faces strong resistance around $34.70, break above targets $40

• Major resistance - $34.70 (trend line joining $34.78 and $34.66)
   
• Major support - $33.25
   
• USOIL has recovered after making a low of $32.31. It is currently trading around $34.22.
   
• Major resistance is around $34.70 and any break above will take the commodity to next level  $36.50/$40 in short term.
   
• On the lower side major support is around $33.25 and any break below will drag the USOIL  till $32.40/$32.
   
• Short term weakness only below $32.

It is good to buy only above $34.70 with SL around $33.24 for the TP of $36.50/$40.