Chart of The Day $OIL 10-13-2016

On the Oil daily chart we see rejection from important 51.67 level and Oil is approaching support 49 level. If this support can’t hold then we could see an extended correction to 46 level. Uptrend is still strong but Oil inability to close above 52 could be a sign of correction and even a sideways range between 40 and 50.

Happy trading! (click on the chart to enlarge it)


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