red circle area is the major resistance, 55.5. So the oil used to skyrocketed and water-falling after passing through the level. it is not an easy level to break, but it has 4 supports (yellow circles) at the bottom, created a strong base to prevent a further falling. Now, a flag pattern is spotted, uptrend is expected to be continued, as long as the bottom lines are sustainable.
entry level should be around 53, SL 51.7, TP 57.5-58.
entry level should be around 53, SL 51.7, TP 57.5-58.