US Oil tests near term support at 54.00

Author: Giles Coghlan | Category: News

Oil at support 

The near term picture for Oil has been weak of late and this morning I wrote a piece detailing those factors. See here. 

Oil has now fallen into key daily  support and shorts have taken profit heading into 54.00.  That should see Oil bounce back into the range for now. A break of 54 and we are heading down to 53.00 and 51.00 below. 
Oil at support 

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose