Oil passed above the first resistance of 59.00 as the market still faces downtrend resistance around 60.10.
As we see over the chart and if prices hold below the said resistances, then another drop towards 57.60-80 could hit the market.
Above 60.10 more advance towards the resistance of 62.60 will be expected, as prices have retreated towards 58.20 so far.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 58.60 | 60.10 |
| LEVEL2 | 57.40-60 | 62.60 |
| LEVEL3 | 56.00 | 64.35 |
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