US Oil is about to retest a key horizontal resistance level near 62.3310. It has tested this level 5 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
Supports and resistances are primary concepts of technical analysis. US Oil is heading for an important price of 62.3310 – read about what this could mean for the future.
