The contract has broken a support at $62.13. The next support will be at $60.98, around which a bounce may occur, as this support will be stronger than the one at $62.13.
SINGAPORE: US oil may test a support at $60.98 per barrel, a break below could cause a fall to $59.55.
The contract has broken a support at $62.13. The next support will be at $60.98, around which a bounce may occur, as this support will be stronger than the one at $62.13.
The former support of $62.13 has become a resistance, a break above could lead to a gain at $64.71. On the daily chart, the support at $61.79 looks vulnerable under the heavy attacks of bears.
Chances are oil may break this support and fall towards $59.39, which may be the ultimate low the wave c could travel to.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Comments
Comments are closed.