0412-USOIL Analysis

USOIL
Oil got pressure of close-out position and retrace to 63.31 yesterday, moreover, it can be seem as a fluctuation of uptrend in following days.

In last trading day of the week, oil may decide whether it close the week above 63.12 or not, if oil maintain above 63.12 after market closed, it will be a negative signal to next week.

Back to the topic, I recommend short oil first for anticipating another downward to confirm the support 63.30~50 it sufficient or not, then oil may have chance to bounce during Reversal Horizon around at 12:00~13:00.

Support: 63.12 /63.30 /63.50
Resistance: 63.85 / 64.00