US Oil - Long Opportunities On Resistance Break

Last week Oil failed to hold at the key support of 56.83 before bouncing at the 55.03 area finishing the week with a rally back towards the 56.83 level. Next week we will look for a continuation of the overall uptrend with a break of key (now) resistance at 56.83 to clear the way for longs towards the target, and next key area of resistance, at 58.79.