U.S. Oil price has extended gainings and it is trading above the 48.70 support level. In the event that the upward move continues, we will face resistance levels at 49.30 and 49.80. On the other hand the price falls below 48.70, the next support level will be at 48.15. However, as long as the price sustains above 48.15, we think the downward movement may be limited.
Support: 48.70 – 48.15 – 47.15
Resistance : 49.30 – 49.80 – 50.15
15 May 17 (Mon)
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