USOIL Bullish Analysis

Usoil market is around its key supporting area. this position has supported market multiple time and have shown strong support from buyers. Actually market is trapped in a range between 66.50 and 61.50. so if we analyze the moment of the market then we can say the 61.50 has a buying potential and this position is buyers favorite. 66.50 is the target that i have set even though market can go higher higher but it would be easy for market to break this position. IF market gives a breakout above 67.00 then its next move will the 70.00 position.

Technical overview:

Support: 61.50
Resistance: 63.40/ 65.00/ 66.50