A lot of Positive Catalysts, oil had a Bullish Target 62.80

The drop in crude oil reserves in the EIA report, the ongoing unrest in Iran as well as the limitation of production by OPEC will still be a positive catalyst for oil prices in the short term. On this day the investor will be looking forward to the activity reports of the company baker hughes rig for US production at pointers.

The nearest resistant level seen at 62.30, penetrating upwards from the level could trigger a rise in advanced mneuju to 62.80 before aiming to strong resistant level at 63.50. For the lower side, the area became the nearest support level 61.70, break under that level could trigger a downturn toward to 61.20 before targeting to 60.50

Support level:-60.50 61.20 61.70-
Resistant level: 62.30 63.50 62.80--

A lot of Positive Catalysts, oil had a Bullish Target 62.80