US Oil breaks major support at $43.40, targets $42.40/$41.40
Major Support - $43.30 (trend line joining $37.59 and $39.77)
Major resistance -$44
US Oil has broken major support $43.30 and declined till $43.09. It is currently trading around $43.11.
Any break below $43.30 will drag the commodity down till $42.40/$41.40 (200 day MA)
It is good to sell on rallies around $43.20-$43.25 with SL around $44 for the TP of $42.40/$41.40
Major resistance -$44
US Oil has broken major support $43.30 and declined till $43.09. It is currently trading around $43.11.
Any break below $43.30 will drag the commodity down till $42.40/$41.40 (200 day MA)
It is good to sell on rallies around $43.20-$43.25 with SL around $44 for the TP of $42.40/$41.40