KENJICHEN

0423-USOIL Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil got positive signal from US restriction regulation to Iran yesterday, then with strong uptrend pattern and incentives, oil seems will challenge $66 level today.

Therefore, if u had follow the reversal horizon to long oil, keep position on hand and waiting the presentness when Euro market open.

Just beware of Euro market can hold above $66 or not, if oil can show strong momentum and keep rising to resistance area around 66.50, it would be a chance to close-out partial position in short-term.

Moreover, if oil fail to break 66.00, there will be a signal for demanding retracement.

Support: 65.43
Resistance: 66.14 / 66.59
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