US Oil has broken through a line of 62.6985 and suggests a possible movement to 62.2475 within the next 8 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 5 days.
US Oil may be on a start of a new bearish trend after its breakout through this important support level
