US Oil has broken through a line of 62.9405 and suggests a possible movement to 62.3590 within the next 6 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 2 days.
If you’re long US Oil you should be aware that 62.9405 has just been breached – a level tested 3 time in the past
