Oil

It's better not to play against such a trend, now only 60.00 a very strong figure can stop the current growth. For now, it just remains to wait for a small correction to enter long, 57 is a good price to buy the oil.

It's better not to play against such a trend, now only 60.00 a very strong figure can stop the current growth. For now, it just remains to wait for a small correction to enter long, 57 is a good price to buy the oil.

Oil prices are up almost 2% after Opec and its allies voted to cut production by another 500,000 barrels. Brent Crude oil futures have risen 1.83% to $64.55 a barrel. Meanwhile West Texas Intermediate oil futures are up 1.78% to $59.47 a barrel.

Today =>Oil

@Resistance><><>< 71.59
@Resistance><><>< 71.87
@Resistance><><>< 71.79

----------------<>-------------

@Supporting><><>< 70.95
@Supporting><><>< 70.88
@Supporting><><>< 70.81

oil kaafi time se bnahut strong chal raha tha may be because of Libiya riots..
lekin last kuch dino se oil kaafi down gaya hai..isne recently 94 ki value ko tod diya hai..
ab tak isne uptrend ka koi signal nahi diya..to lagta hai ki ye aur neeceh ja sakta hai

Calculation For Trading:
Resistance Level (R3): 61.557
Resistance Level (R2): 61.153
Resistance Level (R1): 60.917

Pivot Point: 60.513
Support Level (S1): 60.277
Support Level (S2): 59.873
Support Level (S3): 59.637

oil should be marking out the first leg of a larger correction. Shoud fade over 94(94.15) below 94.15 for 92.50 again before 96.00. I have selling position in 94.25 and will closed after 100 pips profit.

Oil

Resistance 71.57
Resistance 71.89
Resistance 71.77

Supporting 70.91
Supporting 70.89
Supporting 70.83

Oil

Resistance 71.59
Resistance 71.87
Resistance 71.75

Supporting 70.93
Supporting 70.87
Supporting 70.81

Oil is buy

Resistance 71.71
Resistance 71.83
Resistance 71.77

Supporting 70.89
Supporting 70.47
Supporting 70.81