KENJICHEN

0516-USOIL Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
It's about time to soar?
Oil reconfirmed bottom in Wednesday and reveal long side is more possible than short, moreover, $63 is the key level oil need to breakout when uptrend is really in charge for following days.

By catching the opportunity of new rising, we should consider long oil at 62.20 and maintain the position if support still exist.

Support: 62.20 / 61.90
Resistance: 62.50 / 62.90
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