SINGAPORE: US oil may test a resistance at $72.70 per barrel, a break above will not only led to a gain to $73.57 but also confirm a resumption of the uptrend.
The correction triggered by the resistance has almost been reversed.
This correction may have adopted a flat pattern, which consists of three waves that are roughly equal in length.
Support is at $71.28, a break below could cause a fall into $69.96-$70.60 range.
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.