With NFP adding 257k jobs last week Friday the greenback increased by 1.23% which correlated to further oil decline after supply stood their ground a week prior.
As price approaches a major support level at 73.58, a rejection would see buys towards 76.70-77.43 range if price fails to break 72.43
If 73.58 holds as a major resistance and price breaks 72.43, I see selling opportunity towards demand level at 70.00 where I would be anticipating for further decline or a rejection.
USOIL
As price approaches a major support level at 73.58, a rejection would see buys towards 76.70-77.43 range if price fails to break 72.43
If 73.58 holds as a major resistance and price breaks 72.43, I see selling opportunity towards demand level at 70.00 where I would be anticipating for further decline or a rejection.
USOIL